THELOGICALINDIAN - Ten addresses are currently in control of about bisected of all tokens broadcast in the yearlong EOS antecedent bread alms ICO The fundraising accident awash a absolute of one billion EOS tokens while adopting a amazing sum of 4 billion
Nearly 50 percent (49.67 percent) of all EOS tokens are currently broadcast amid aloof 10 wallets, according to a report from Trustnodes.
Block.one, the aggregation abaft the EOS project, holds 100 actor of the absolute amount. At the time of this writing, EOS is trading at $14.42, giving Block.one addition $1.44 billion on top of the $4 billion they managed to accession during the ICO.
While it’s adamantine to analyze the owners of the actual top nine addresses, their volumes are absolutely public. One of the addresses holds 75 actor tokens, which almost translates to about $1 billion. The bulk of tokens captivated by the other top 10 addresses varies, with one of them captivation 20.6 million. Another holds 13.5 million.
It additionally bears advertence that beneath than ten entities or individuals could conceivably be in allegation of these accounts. As categorical by Trustnodes, it’s awful acceptable that best of the addresses accord to accepted cryptocurrency exchanges such as Bitfinex, Binance, Upbit, Huobi, Bithumb, and OKEx.
The top 100 addresses annual for a absolute of 748,176,831 tokens, which represents 74.82 percent of the absolute supply. This agency that the abutting 90 addresses alfresco of the top 10 authority almost 250 actor tokens — or 25 percent of the absolute lot.
The top 1,000 addresses authority 858,120,383 (or 85.81 percent) of all tokens, abrogation the 900 addresses amid 100 and 1,000 with no added than 11 percent of the absolute amount.
The absolute bulk of badge holders is 162,930, acceptation that those amid #1001 and #162,930 annual for a little beneath than 14 percent. Of course, it’s account pointing out that individuals or entities can authority added than aloof one address, so that accurate cardinal doesn’t necessarily reflect the cardinal of holders. Conversely, individuals may not be complex in the blockchain and participate in EOS badge trading alone through exchanges, so the cardinal of abode holders can be broadly underestimated.
Nevertheless, one affair is assertive — about 50 percent of the absolute bulk of EOS tokens is concentrated aural 10 (or potentially less) individuals or entities.
Instead of actuality run by a bound cardinal of mining pools, EOS is advised to accept a accumulation of 21 Block Producers (BP) voted in by the community. Under the Delegated Proof-of-Stake algorithm the arrangement is running, block producers will be creating the blocks of the blockchain and accepting abundant rewards in EOS tokens which are produced by badge inflation.
BPs are declared to be called in autonomous elections area anniversary EOS badge can be acclimated to vote for up to 30 altered BP candidates. Technically, anyone who has acquired EOS tokens can annals to become a block ambassador and be voted in by the community.
The above breakdown of the badge administration brings up an alarming affair – 10 addresses, allegedly captivated by 10 individuals or entities (or alike less), authority about 50 percent of the voting power. According to the official post anecdotic the mechanics of the BP elections, the quorum bare for the elections to be accurate is 15 percent.
In added words, those 10 addresses accept the abounding abeyant to actively appulse and alike actuate the aftereffect of any abeyant elections at any accustomed moment — as they’d consistently aggregate a accurate quorum.
Thus, the accompaniment of the absolute EOS blockchain is acceptable to be bent by a bald 1,000 abode holders, as they annual for 85 percent of the absolute bulk of EOS tokens. Given that there are added than 160,000 contributors to the project, arguments can be fabricated apropos the akin of capitalism allegedly administering the project.
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