EOS Worker Proposal Passes First Approval Stage with Votes from 34 BPs

EOS Logo on Blue Fire

The EOS Worker Proposal System (WPS) introduced by the top block producer EOS Nation, has passed stage one of the implementation process. This first approval is the first of 4 planned multi-signature (MSIG) approvals.

EOS WPS Scales First Approval Milestone

In a tweet published on Tuesday (March 24, 2020), EOS Nation announced the completion of the first approval stage of the EOS WPS proposal. A total of 34 Block Producers (BPs) both active and standby, participated in the approval process.

Today we executed the 1st of 4 MSIGs required to implement the #WPS on #EOS!

The first MSIG consisted of creating the eosio.wps system account and we're happy to report 34 approvals from BPs! (1/4)

EOS WPS acccount: https://t.co/hYOSqr3uOS

MSIG #1: https://t.co/BIF4gDlXO5 pic.twitter.com/xkOvEJ4mvC

— EOS Nation (@EOS_Nation) March 24, 2020

According to the leading block producer, 34 BPs supporting the WPS was record-breaking, as the figure showed the strongest consensus achieved for any EOS mainnet proposal. Out of the 34 who voted, 19 out of 21 top BPs voted in favor of the proposal, which was higher than the required 15 top BPs; while the remaining 15 came from stand by block producers.

However, Block.one co-founder and CEO, Brendan Blummer, initially expressed concerns about the EOS WPS. Although Blummer praised the efforts of those working to grow the EOS ecosystem, the Block.one CEO said the proposal may be risky, make room for corruption, and attract external scrutiny.

With the first MSIG scaling the first stage, three more MSIG proposals need approval. After the second MSIG approval, 50,000 EOS tokens will be moved to eosio.wps accounts after activating the EOS WPS system. Furthermore, the third and fourth stages will see the deployment of the WPS smart contract to the new account and initialization of the new system respectively.

The EOS WPS is the latest event in a flurry of developmental activities for EOS. As reported by BTCManager January 2020, Block.one released a new version of the EOSIO software, the EOS version 2.0, to improve scalability and security.

Democratizing the EOS Dev Process

Recently, EOS Nation introduced the EOS Worker Proposal System to give BPs the opportunity to vote specific projects brought forward by EOS account holders.

An excerpt from the official document reads:

This decentralized voting & distribution mechanism is governed by the rules coded within the WPS smart contracts, which allows any EOS account to propose a budget for their specific project and Block Producers ...

Read full story on BTCMANAGER

Tags: Eos, Women's Professional Soccer, proposal, HarperCollins, British Psychological Society, Votes, Broadway theatre, Statistics Indonesia, Chief executive officer, Blummer