We’re very excited to announce at Whiteblock that we have conducted the world’s first independent benchmark testing of the EOS software. The benchmark testing project was publicly requested by a collection of companies using the Bounties Network.
Blockchain organizations such as Cosmos, ECF, Maker Dao, Loom Network, Coin Fund, Ledger Capital, Consensys, Google, Microsoft and more along with academic institutions such as Duke, USC, and MIT have committed to contributing resources to develop comprehensive reports based on Whiteblock’s raw data.
ConsenSys partnered with us after we successfully created a replica of the EOS network that could be used to test the network’s ability to withstand stress conditions and various faults that would be typical in a production environment. Whiteblock first launched the test project in September 2018, and have continued to test the EOS network until now.
We created test parameters to evaluate the following metrics:
- Transactional throughput
- Resilience to adverse network conditions
- Effects of variable transaction rates and sizes
- Average time to finality for a transaction
- Fault Tolerance
- Partition Tolerance
Our EOS test follows a slew of studies we have conducted on other leading blockchains such as Ethereum, Ubiq, Syscoin and more.
Here are some conclusions we came to after initial interpretations of the resulting data, network emulation, source code, and investigation:
- EOS throughput is significantly lower than initially claimed in marketing materials such as the EOSIO Dawn 3.0 release.
- EOS is not a blockchain, rather a distributed homogeneous database management system, a clear distinction is that EOS transactions are not cryptographically validated.
- EOS token and RAM market is essentially a cloud service for computation where the network provides promises for computational resources in a blackbox for users to access via credits. There is no mechanism for accountability due to the lack of transparency on what Block producers are able to create in terms of computational power.
- EOS suffers from consensus failures and lacks Byzantine Fault Tolerance.
These are conclusions drawn on early data and testing continues but the results point towards inaccuracies in performance claims and signifies that the foundation of the EOS system is built on a model that is not truly decentralized.
For more information you can check out the test report here.