On March 15, 2020, the CEO of Block.one, Brendan Blumer shared his speculation on the effects of the recently proposed EOS Worker Proposal System (WPS) on the EOS Blockchain network, and also he appreciated the work both EOS ecosystem and Attic Labs have put together in advancing the EOS Ecosystem.

Brendan shared that he is a very enthusiastic investor in Blockchain projects and related developments. He likes how specific models can outcompete legacy models, but he believes without sustainability, enforcement capability, and measurable returns, it would be a lousy prognosis.

He cautioned that the WPS system might alienate the EOS network from others in the Blockchain community and media and largely put a stake on the future of the EOS network.

Blumer added that the return of the value of the initial holder of the EOS token is questionable, adding that socially authorizing the block producers to direct token-holder funds into new projects without a measurable return of value is precarious. This means of authorizing blocks may open doors to corruption and external scrutiny according to the Block.one founder.

More About the New EOS WPS

The EOS community and Attic club block producers recently proposed a new mechanism called the Worker Proposal System (WPS) for the EOS delegated Proof-of-Stake (PoS) blockchain.

The proposed scheme will effectively allow any EOS community member to make a suggestion for how the Blockchain should be run and developed. For a user to submit a proposal, they are required to transfer a non-refundable amount of 100 EOS to support the operations of the WPS mechanism.

Furthermore, the user will also be required to make 50,000 EOS available for 60 days, after which all block producers will vote on the proposal. Any proposal that gets less than 20 points after 30 days expires and is discarded. The smart contract for this proposal is ready for testing.

EOS: A Model For Decentralized Blockchain Project

EOS was designed to function as a smart contract and distributed ledger system. The network was initially deployed as industry effective and large scale apps based on the decentralized autonomous corporation model.

The EOS software delivers state-of-the-art authentication, databanks, asynchronous communication, accurate accounting, and the programming of applications across numerous CPU cores and clusters.