The fraudulent activity led to the fact that the hacker was able to get hold of 30,000 EOS tokens. The decentralized gambling application was simply hacked by an attacker. To do this, he used the computing power that he rented. Thus, in the final round, he was able to get a big win, which in terms of US dollars amounted to 121,000.

How did this become possible?

This event is actively discussed on Twitter. There is an assumption that this person simply made a substitution of the conditions for winning in one of the games on the EOS network.

The scheme is well thought out. He originally leased a large amount of computing power from the REX resource exchange (from EOS). After that, the hacker manipulated the attacked contract in order to get the transactions of most of the other users.

What happened after the overload?

When the network was overloaded, he launched several gambling contracts on a decentralized site. But given the fact that transactions are the backbone of the payout system in applications, these conditions can be manipulated.

After the network was rebooted, it turned out that only the hacker himself and the application on which the attack was made were workers. But even when the developers of the network identified this attack, they could not stop it. It turns out that this fraudster was to a certain extent invulnerable.

Features of the EOS platform

To better understand how such fraud became possible, you need to dwell in more detail on the features of EOS.

This blockchain platform was created specifically for the development of decentralized dApps. It has a simple and user-friendly interface, any number of transactions can be carried out per minute. The project manager is experienced blockchain project developers Laniel Larimer and Brendan Bloomer.

Today, the EOS platform is Ethereums main competitor. EOS was created in 2017 to provide developers of decentralized applications with an easy-to-use and effective tool that can be used with unlimited transaction speed, which is very similar to the Ethereum network. However, supporters of the EOS platform believe that it has a great future and there is every chance to replace Ethereum.

The full launch of the platform took place at the beginning of last summer, but today it is still developing and does not use all its capabilities, although its applications already exist.

The developers of the platform said that a specific blockchain will not be made, they will only provide a platform on which it can be created, with all the tools necessary for this. Any user will be able to use these tools. It is they who will create specific blockchain systems, depending on their needs. But EOS in this case is an operating system.

The main difference between the platforms authentication mechanism and systems of other blockchains is the huge number of settings that are available for use by each network participant. They have different levels of access to specific applications and projects. In addition, databases can be exchanged from different accounts, if the need arises. Today, the improvement of the account recovery algorithm continues.

The platform provides developers of decentralized applications with the ability to use the cloud service. Any user can use system resources, channels through which data is transmitted, etc. without restrictions, depending on their needs.

In addition, developers have the opportunity to assess the resources that are required for their application, set the necessary restrictions, and to use this service, you need to secure tokens. Of course, if it is a large project, it will take a lot of tokens, but as the EOS developers claim, the platform has enough resources to enable a really powerful system to run. It all depends on the users availability of coins.

The advantage of this platform, which sets it apart from other existing blockchain systems, is that users do not pay a commission. The basic toolkit is available completely free of charge. But if you need to get access to additional resources, you will need to pay in EOS tokens. For beginners, the basic version will be enough. Each application developer independently sets the payment, it all depends on how they want to make money using the EOS platform.

Are users still using EOS?

Today, the number of users of decentralized applications on EOS is already greater than on Ethereum. And it is through the applications for gambling that the predominant amount of such traffic falls.

However, it should be noted that the community has suspected many times that bots make up the majority of users. But there are not enough real users in the dApps sphere.

Also, critics have many complaints about the level of centralization of the network. At the beginning of this year, the aggression of the founder of the network, Dan Larimer, splashed out on Bitcoin and Ethereum. He threatened to "break" these two largest cryptocurrency networks.

Another blow to the networks reputation

EOS suffered another blow to its reputation recently. According to Larry Sanger, who is the co-founder of Wikipedia, the network is centralized in the hands of the Chinese. It is with this that he explains the reason for the termination of his work on his decentralized applications on the EOS platform. There is also some truth in this due to the fact that this platform in China is placed by the Center for Information and Development on a leading position in the top cryptocurrencies.