Jul 16, 2018 at 05:49
Jul 16, 2018 at 05:49 UTC
Is Ethereum being attacked by EOS?
Fresh wave of allegations have come up against EOS, the smart contract platform which deploys decentralized applications. This time Ethereum is the platform under attack, claims Justo, a DAPP developer from the team behind PoWH3D and Fomo3D.
Now although these allegations don’t come from a valid source, there might just be some truth in it. Justo shared his conclusions after much research on Reddit and since then a lot of discussion has taken place around it. He claims that his team monitored a series of Airdrops of tokens with negligible value by EOS. This tactic caused inflation in the prices of gas, which is the internal pricing for running a transaction or contract in Ethereum, thus effectively congesting the Ethereum network.
Justo explained the strategy in detail. The days leading up to June 6th, which was the launch day of the EOS platform, gas prices rose due to “Airdrop” tokens. He says that such tokens were in the thousands and they had no websites to trace them back to or alternatively had bootstrapped template websites which can be made in hours. This led to massive wastage of Ethereum and money used to drop tokens. What’s suspicious is that as soon as EOS launched on 6th June, this activity stopped and the gas prices went back to normal.
According to Justo, such a strategy could encourage users to shift to EOS from Ethereum. His conviction is firm because on an average, two million dollars go into this attack on Ethereum which only a platform as big as EOS could afford. Some users agree with Justo and back his claim with their own theories.
Justo has given examples on his Reddit post about some of the mysterious airdropped tokens. One of them is the ERC20 token under the name “IFishYunYu” which offers no functionality. There have been massive transfers of this token which is highly suspicious. This token’s creator mined about 5 billion tokens that were sent to a number of destinations that are “Spamming” the ETH network.
Justo claims that ones the dots are joined, all evidence points towards EOS as the one behind this attack. No official comments have been made from either EOS or Ethereum.