Three Latin America Block Producers Form Blockchain Alliance to Promote EOS
Blockchain can help resolve some of the world’s challenges like financial inclusion. Though transformative and remarkably efficient, its ecosystem can’t be accessed by everyone. As a result, adoption remains low. To promote the EOSIO blockchain and drive adoption, EOS Costa Rica, EOS Argentina, and EOS Venezuela are joining hands to form the LatamLink as per EOSWriter, June 3, 2020.
EOS Costa Rica, EOS Argentina, and EOS Venezuela are Block Producers in the smart contracting and the delegated Proof-of-Stake (dPoS) network, EOSIO.
Block Producers are validators in the EOSIO blockchain tasked with transaction confirmations. This arrangement is only possible in a dPoS system, a variant of the Proof-of-Stake (PoS) consensus algorithm employed by the likes of Cardano. Soon, Ethereum—once it transits to Serenity, will use PoS in place of the energy-intensive Proof-of-Work consensus algorithm used by Bitcoin and Litecoin.
The purpose of the LatamLink is to build a TestNet that highlights the advantages of EOS. It will also complement and further the interests of the LAC-Chain network and its ecosystem.
Specifically, the LatamLink will build an infrastructure and avail tools and like dFuse, compatible EOS wallets, and a blockchain monitor for faster experimentation.
This way interested members will test applications on the EOS blockchain, evaluate what the network has to offer, and if satisfied, run applications on the $2.5 billion chain.
Blockchain for All-inclusiveness
The LAC-Chain is a larger initiative that seeks to serve over 635 million people across South America and the Caribbean by promoting blockchain.
The alliance brings together ConsenSys, the Enterprise Ethereum Alliance, and the Blockchain Research Institute, among other prominent distributed ledger technology evangelists.
The overarching goal of the LatamLink and LAC-Chain is all-inclusiveness, interoperability, and the creation of “a large Pan-American blockchain space” available to all citizens.
In the words of IDB Lab CEO, Irene Arias:
“Through this initiative [LAC-Chain], we hope to realize the dream of having a large Pan-American blockchain space that is interoperable and open, and that makes blockchain accessible to all citizens and for those who work for a prosperous future with inclusion in Latin America and the Caribbean.”
EOS Said to Be Centralized, Block Producer Voting Manipulation
For its high throughput, critics slam EOS for being centralized because of the 21 Block Producers. Unlike Bitcoin, for instance, where nodes are distributed across continents, their argument is that the presence of 21 Block Producers goes against the principles of decentralization.
In 2018, there were claims that Huobi, a Block Producer, was colluding with others by accepting bribes. For this, Huobi was supposed to throw their weight during voting. Brendan Blumer, the CEO of Block.One—the official publisher of EOS, denied these claims in a blog post.