Block Producers change EOS constitution following voting gridlock

The long-awaited EOS user agreement was signed by 21 of the network's 30 Block Producers following months of negotiation and debate following referendum gridlock.

The new document replaces the much-criticised EOS interim constitution as the network's governing document.

Under the terms of the new EUA, Block Producers will continue to hold a dominant role in network governance.

Following the EOS mainnet launch 10 months ago, a huge controversy erupted over several details in the interim constitution.

The importance of Block Producers to the EOS network sparked an ideological blockchain debate with 'realists' arguing in favor and 'purists' arguing against.

While 99 percent of the 17 million voting tokens indicated "Yes" over "No," the very low turnout meant that Block Producers could essentially use their discretion to make a decision.

Eventually, 21 Block Producers decided to take matters into their own hands and effect the switch.

Some believe that the EOS structure gives Block Producers the power to effectively rig the market by making unilateral decisions as a cartel.

This goes back to the period under the interim constitution where ECAF decisions could not be enforced without Block Producers' approval.

This has created a strange dynamic where key decisions are left in limbo because they fail to meet referendum voting thresholds while Block Producers can still force through changes.