BitMEX Reopens EOS Debate by Re-posting Damning Report

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BitMEX, the cryptocurrency platform that allows leverage trading on a number of digital assets, drew the wrath of EOS supporters this week. It re-published a two-week old report from blockchain testing outfit Whiteblock, which claimed that EOS “is not a blockchain”.
The original report, which questioned the project’s claims of decentralization and technical prowess, was written at the beginning of the month and garnered little publicity, until BitMEX chose to re-publish it on their blog last week before removing it days later. The report concludes with the assertion that EOS needs to be significantly redesigned if it wants to challenge Ethereum as the premiere blockchain platform.

Supporters Question Motives

EOS fans were left baffled by BitMEX’s actions, with one stating:

Completely biased and defended to death already in the other 50 post about the same report. The only reason to post such an antagonist old article is to create FUD.

It is unclear why BitMEX would choose to publish an old report about one particular project with which they are not associated, never mind removing it again soon afterwards. Conspiracy theorists might claim however that it has to do with the ability to short EOS on the platform, meaning customers can bet that its value will decrease, and so posting a negative report could be viewed as an attempt to influence trading.
Other EOS supporters chose to investigate who funded the research, discovering that it was financed by a company called ConsenSys who are “heavily involved in Ethereum”. This may explain the reason for the perceived bias in the report, but not the actions of BitMEX.

EOS Response

EOS issued a rebuttal of the article at the time, claiming that “their (Whiteblock’s) paper contains numerous errors” before breaking down what they felt constituted a blockchain and stating that “…Whiteblock might want to admit publicly that EOS is indeed a blockchain, for any meaningful definition of the term.”
Whether they will feel the need to re-issue this statement remains to be seen, but with BitMEX having swiftly removed the report from their website, following criticisms of their own platform, it seems that they may not need to.