Block.one Co-Founder and CEO, Brendan Blumer Criticizes New EOS Worker Proposal System
The EOS nation and Attic club block producers have proposed a new mechanism called the Worker Proposal System (WPS) for the EOS delegated Proof-of-Stake blockchain.
The proposed scheme will enable anyone to make a proposal for how the EOS blockchain should work. To send a proposal, a user is made to transfer a non-refundable amount of 100 EOS to support the operations of the WPS mechanism. The user is also required to make 50,000 EOS available for 60 days. The smart contract for this proposal is ready for testing.
After this, all block producers will then vote on the proposals. Any proposal that fails to score 20 points and above within 30 days expires and once a proposal is submitted, it is not subject to change.
However, the co-founder and CEO of Block.one, Brendan Blumer has raised concerns about this initiative. Although Blumer appreciates the efforts of the brain behind this novelty, his concern is about the effect this novelty may have on the network.
While I greatly appreciate and applaud the work and thought that @EOS_Nation and @atticlab_it put into ways of potentially advancing the #EOS ecosystem, I am personally concerned of the effects the recently proposed EOS Worker Proposal System may have on the network.
— Brendan Blumer (@BrendanBlumer) March 15, 2020
Blumer added that the return of value of the initial holder of the EOS token is questionable. He claims socially authorizing the block producers to direct token-holder funds into projects without a clear or measurable return of value is risky. He believes this may open doors to corruption and external scrutiny.