733,203 attestations were taken back
733,203 attestations were taken back. Every single one by the party that wrote it. I went counting because someone told me, politely and correctly, that a signature does not make a statement true. I had no good answer, so I went looking for what the ecosystem does when a signed statement stops holding. The numbers, taken against the three EAS indexers rather than estimated: Base: 678,895 revoked…
733,203 attestations were taken back by the party that wrote them, according to a recent report. The data was gathered across three EAS indexers, revealing a significant 15 percent revocation rate. Notably, 97 percent of all revocations occurred under three schemas issued by a single entity, verifiedAccount. The source material also highlights the lack of a mechanism for counterparty disputes in the registry, as there is no official process to challenge or correct a statement once it has been signed.
Instead, the only recourse is for the issuer to withdraw their own statement, which the report suggests is the most common operational practice at scale. The author emphasizes that self-correction functions effectively when the author has no vested interest in the statement's accuracy, but fails when the author's interests are at stake.
They also point out that a registry gives the issuer exclusive authority to revise records, thereby amplifying the impact of their actions. The article concludes by suggesting that the most efficient solution would be to develop a cheaper, more equitable system for handling disagreements, as the current approach relies on self-correction and has resulted in over 700,000 instances of revocations.
Written by urgent.news from Dev.to's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
