LEO UNUS LED is an Exchange backed cryptocurrency piloted by Bitfinex. Recently, Callisto Network audited the crypto-token. Several doubts were raised on the centralization of the network because “the contract has an update function that can allow owners to destroy investors’ funds.”
LEO is built on two platforms – EOS (as LEO EOS Contract) and Ethereum (as ERC20 Contract). According to the audit report summary,
EOS is a newer and improved smart-contracting system. Its approach is more advanced and it takes into account the experience of previous platforms, including Ethereum.
EOS provides added mutability to the contract. The auditor mentioned that out of more than 200 smart contracts audited by them; the up-gradation feature is added to correct unforeseen circumstances. Dexaran, the pen-name of the auditor and Co-founder of Callisto Network noted,
Writing the error-free code is impossible. The only viable way to make code safer is to make it fault-tolerant instead of trying to make it bug-free.