EOS Phishing Hack - 100 Accounts - What Happened?
100 Accounts Were Stolen By Hackers
What Happened Next
Find Out How EOS Works Behind The Scenes
https://eostribe.io/
Steve Floyd & Eugene from EOS Tribe block producer talk about how this attack was fixed by EOS governance. The arbitration system is not fully implemented yet, so the block producers were in a position where they needed to decide how to move forward.
Steve gets into how the decision was made and what the incentives were.
We talk about some of the plans that were suggested and some other ways it could have been done.
It seems that everything worked very smoothly.
This is a really interesting video that shows a little behind the scenes with Block Producers and the current state of EOS governance. Enjoy my friends.
Much Love,
Brandon @happymoneyman
@happymoneyman Thanks for the video my crypto friend.
wow
That power is scary when you consider bitfinex's block producer receives 35% of its votes from one account and id bet there not alone.
There's never just one cockroach in the kitchen
I guess #Steem isn't so bad in comparison
Steem is a pyramid scheme if you think how its working :)
what's that make Eos when 10 addresses control 50% of it and a very small number rule like 90% of it... a monarchy?
How is that any different from the 10 bitcoin mining pools control 90% of the hashrate,
#bitcoin is immutable meaning transactions cant be changed and users assets cant be seized = Censorship Resistant & Decentralized
Also Bitcoin mining pools make up 10's of thousands of miners #eos is a few hundred
a bi-partisan dictatorship
How can people be supporting this cryptocurrency? An order by a 3rd party unknown by many and elected by none must be obeyed and decline transactions from some addreses without giving any valid reasons at the start? Seriously? This is the cryptocurrency saying "Decentralize everything"? You can't make a comedy this good even if you tried.
Elected by none? You don't know much about EOS, do you?
elected by none he means block producers are the majority holders that vote each other
Thanks, seems like @eirik didn't get the idea. Elections where votes don't count the same are not democratic nor decentralized, which is what EOS was shilling. "Decentralization".
Have you read the white paper??
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Are you really trying to argument something based on a whitepaper in the cryptocurrency world? Ignorance really is bliss.
Ignorance is bliss
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can you explain excatlly which coin you talking about
EOS seems so over valued..
Jesus christ EOS is the most shilled crypto in a while. It has been a disaster of a launch for a cryptocurrency which raised the maximum ICO at the time of writing with more than 4 Billion USD. It is governed by just a few people who fix things in conference calls and that some have power over other thus governing the blockchain. A blockchain that was supposed to be DECENTRALIZED. How can a blockchain with the motto "Decentralize Everything" be governed by just a handful of people who NOBODY chose? It's just pure comedy what EOS has come to be, without A SINGLE PRACTICAL USE CASE.
Pretty sad , you have to troll instead of giving constructive cristism, yeah is far from perfect we all have to ship in.
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I like how people easily use the word "troll" for things they just don't like. All above was criticism, and it is constructive if it is fixed, it's that easy. Not trolling, just criticism with arguments, learn to take it.
Yeah great to see BP's step up to the plate and take action.. Not everybody is as smart as you are so they got screwed by some idiots..Why you hating??
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No hate. Just saying the a network that went with the motto "Decentralize Everything" is probably one of the more centralized ones there is. And thats just that.
Fair enough is definitely not decentralized as some of us would like for sure...IMO Bitfinex is the big elephant in the room ..
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Sad to see so many trolls
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How has the launch been a disaster. The launch was smooth asf and everything is currently working just fine.
EOS is operating with 0.5 second blocktimes and 0 fees - already it is a game changer.
Are you serious? Please read before posting, it has already been answered. The actual mainnet launch and swap was postponed A PLETHORA of times, and froze for a whole day when bugs were found, and now funds are frozen because a few people said so.
Having less blocktime and zero fees doesn't make a cryptocurrency any better than others. There are already cryptocurrencies with less blocktime and no fees. It doesnt make it better than others, it's just another shitshilled coin which will disappear in no time when people actually realize its totally worthless.
The launching was never postponed - there was no date to when the mainnet would be launch. The only date set was the date where the eos.io software would be fully built.
'froze for a whole day when bugs were found'
It was frozen for a few hours. EOS found a bug, immediately froze the chain and came up with a solution in a matter of hours - no other blockchain can do it that fast. If an error turned up in ethereum - no doubt it would be a long process and would involve a hardfork.
'Having less blocktime and zero fees doesn't make a cryptocurrency any better than others.'
Erm yes it does.
'There are already cryptocurrencies with less blocktime and no fees'
There are no other blockchains in existence with less than 0.5 second block times.
These are the types of people that hate on eos. They have no actual facts to back them up and will lose all their money because they get all their opinions from news titles and youtubers.
Yes, the launch was postponed over two times and when it was launched, it launched without being tested over a testnet before. A thing that MUST be done being the cryptocurrency who raised the largest ICO to date.
Having raised more than 4 billion USD and not having tested on a testnet before launch, thus causing bugs and frozen chain for hours on launch, is extremely sad for a cryptocurrency this big.
Also, it's just plain funny how a currency that goes by the motto "Decentralize Everything" is so EXTREMELY CENTRALIZED that things are fixed over a conference call with a few other people. Sad. You're the one that is just plain shit selling a shitshow such as EOS.
'postponed over two times and when it was launched'
It's working now? You probably weren't around but people like you were saying the same thing for ethereum when it launched months late and had really buggy code on release.
'tested on a testnet '
Are you dumb? Dawn 1.0, 2.0, 3.0 were all testnets running eos.io software. Not to mention to code got audited by multiple companies before June 1st.
'EXTREMELY CENTRALIZED'
Dumbest shit I've ever heard. You have a brain - use it. 21 nodes is much more decentralized than every other coin in the top 10.
Everything you've said is either insignificant and won't effect eos in any way or is just plain wrong.
Compared to what? Bitcoin that can do 5 transactions / second and had $35 transaction fees when transaction volumes went up?
Or compared to Ethereum that is at transaction capacity and can't handle any real applications running on it unless you count CryptoKitties which brought the entire network to it's knees for a small little application?
Or maybe Ripple which........... well the newbs are still trying to figure out the difference between centralized and decentralized? Hmmmmmm
each of those transaction can be batched for 100k's like coinbase does etc and when lighting is fully operational will be exponentially higher
bitcoin fees are being improved on over time current transaction fee is 0.10c
the reason it takes so long is due to being the only truly decentralized crypto adjustments aren't easy to agree upon or implement
for example Segwit took nearly 3 years but improvements drastically improved effecincy reduced and helped tackle the recent DDOSing by means of dust transactions from thousands of btcoincash wallets
bitcoin isnt even at 1% of functionality with 3 significant technologies coming within the next 2 years will give a taste of bitcoins true power
Plus the LN has made huge leaps- many of the Lapps have shows that the LN can work as a microtransaction system.
Pssshhhh. You do realize I have been hearing about how great the lightning network is going to be since Early 2014!?!?!? It is like a broken record of people talking about how awesome the lightning network will be but it never fully shows up.
Bitcoin fees went down because the baby back n00bs got their sculls crushed in when the Mt. Gox trustee dumped on all of us. Now they are history so there isn't as much activity on the network.
This is going to be you when Lightning network is fully functional.
maybe you should learn how bitcoin and lighting work before displaying your lack of experience with illogical statements
Lighting is working since February still testing and growing.
Again Bitcoin is truly decentralized with the most complex cryptography it takes a very long time to design,test,implement and get consensus.
On the supposed Mt Gox dump is a common misconception and a logical fallacy.
There are 100's of thousands of users and millions of factors leading to price change not any news not 1 whale or 100 whales can do much to the price would cost 100's of millions if not billions to move the price a few hundred dollars.
The leading causes for the bear market was over-inflated prices last year by 10's of thousands of inexperienced people investing in things they didn't understand believing what ever ICO altcoin had said in there whitepapers and what shills were saying about projects and that magically the prices would never stop rising.
I'm well aware of how Bitcoin and Lightning Network works or doesn't work.
As far as the price goes yeah things were over hyped but all it takes is one vicious death drop to shake everyone's confidence to a point where they aren't bringing more money in. So yes the Mt. Gox trustee causing the $5,900 low really busted people's teeth out.
In MMA all it takes is one blow and no matter how good things are going that could end the fight.
your comments have shown you dont have a clue how bitcoin or markets work
Nah, Actually I have been involved in this space since 2013 and have a computer information system degree and for many years traded stocks and options. I only trade crypto now. It sounds like you are a Bitcoin Maximalist and you are newer to the game and buy into the same narrative that has been repeated for 4 years. During the spike, Bitcoin didn't even work as well as it did in 2013. It was very sad to see and even more disturbing that all the n00bs didn't know any different.
or some kids need to stop crying
Stupid hackers can't stop EOS, minor set back.
How we can get safety against hacking, which is very important for all of us.
no wonder eos suddenly seeing a price drop
crypts are our future
I believe in this token
security holes are the biggest disadvantage, users and especially developers still have to work hard