The EOS constitution did not pass the test and the founder of the cryptoproject Daniel Larimer proposed to change it or replace with a new one.
This happens only a few weeks after the long-awaited launch of the Mainnet. EOS at the time published a number of rules in a document called the constitution. At the very beginning of the document it is said: "This constitution is a multi-party contract entered into by the members by virtue of their use of this blockchain.”
After the launch of the Mainnet, the project was criticized for the fact that the constitution gives too much authority to arbitrators on the network. They can resolve disputes directly, and their power does not have clear limits.
Larimer proposes to change this. He wants the arbitrators to make decisions concerning only the contradictions between the code and its purpose and the code containing the vulnerabilities.
“An arbitrator can render an opinion, and the parties can either comply or not and the arbitrator can indicate whether a party is in good standing… that is it. An arbitrator should not ever have the power to take assets unless said assets were previously placed in control of the arbitrator. I don’t agree with placing all assets under control of producers,” Larimer said.
However, the constitution can be rewritten only by following the procedures described in it. The constitution and its subordinate documents shall not be amended except by a vote of the Token Holders with no less than 15% vote participation among tokens and no fewer than 10% more Yes than No votes, sustained for 30 continuous days within a 120 day period," the document says.
It is not so easy to get the required number of votes. Recently, the EOS took two weeks to collect the minimum number of votes required for the blockchain to start operating. And after all the conditions have been met and the community votes for changing the constitution, the document is able to be replaced no earlier than 120 days later.
By Ekaterina Ulyanova