EOS has been surrounded by one controversy or the other. These controversies have taken a toll on the cryptocurrency market cap as well. EOS was in top 5 cryptocurrencies by market cap for a long period of time. However, in the last couple of months, it has lost that position. This is due to the numerous controversies and the problems which it is facing. It seems like the developers and the founders of EOS are finally trying to take some control and move things in the right direction. The founder has decided that there will be some changes to the blockchain of EOS.
What are the changes which EOS is making to its blockchain?
Currently, the EOS uses 21 block producers. These block producers are chosen by Eos token holders. They are used to verify the transactions on the blockchain. They supply computing power to the entire blockchain as well. In return, they earn EOS tokens.
In order to ensure that the blockchain technology is not disrupted, in addition to these 21 block producers, there are various stand-by block producers as well. They are paid to be the standby block producers. The problem is that these are just redundant block producers. The network, as well as the token holders, do not know whether they will be able to fill in the need whenever an emergency arises. Irrespective of that, they are paid in order to be redundant block producers.
Dan Larimer, the creator of EOS has now issued a statement stating that there will be some changes to this mechanism. In order to verify that the actual standby block producers will be able to serve the network, they will be rotated to become the 21st block producer. This will ensure that their resources are tested. Thus, whenever an emergency arises, tried and tested block producers will be in the backup. This will ensure that the reliability of the blockchain will increase much more.
In the past as well, this role had been proposed. However, EOS did not go ahead with it. It remains to be seen whether this time around, the founder of EOS wants to seriously go ahead with it or not. In the past, there have been active block producers which have been acting as the backup. That is why this step is actually imperative for EOS. In order to make the blockchain more efficient and trustworthy, it is important for EOS to implement this measure. It remains to be seen whether that happens or not.