The highly controversial blockchain project EOS (EOS), which recently migrated to its own mainnet, is allegedly working to actively clog the Ethereum (ETH) network via a series of random unbacked token airdrops.
According to a breaking report by Trusted Nodes that interviews a developer building two gambling DApps called PoWH3D and Fomo3D, the steady increase in GAS prices over the last month is due to the release of thousands of random tokens with no website or any other indication of actual development. We can think of these as essentially “zombie” tokens.
The developer goes on to accuse EOS of driving the congestion activity leading up to its mainnet launch, and afterward as a way to mask the ongoing drama related to the EOS network and governance model.
It started 1 month running up to the mainnet release. It was predictable and very clearly orchestrated… follow the wallets. If you don’t think EOS is doing it, then who has 2 million dollars a day to attack ethereum, and also owns EOS tokens?
For example, the developer claims that IFishYunYu, a token that matches the zombie description, was partly funded by an address that received “a lot of crowdfunded EOS.”
With the exchange’s new system, investors are able to vote for token listings via a “cumulative deposit number ranking,” which assigns one vote to each token deposit. These findings, which were first discovered by MyCrypto.com, indicate that investors have been sending ERC-20 tokens en masse across multiple accounts, resulting in significant network strain.
Together, these activities are having a significant effect on the Ethereum network. We recently reported that the number of active addresses on the network dropped 25.4% over the last week from 1.8 million to 1.3 million between July 2 and July 9. Additionally, overall ETH trading volume dropped 18.5% to 11.4 million ETH.
Over that same period, the overall transaction fees surged dramatically, jumping from 14,000 ETH to 32,000 ETH.
The allegations against EOS are currently unconfirmed, and there has been no public response to the report from the EOS or Ethereum teams at this time.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.