I don’t think there’s a thread about EOS. So gonna make this and post tons of EOS related stuff on it. Below is a quick layout of the blockchain’s infrastructure written by ya boy
EOS uses DPOS created by Daniel Larimer which is the only consensus algorithm capable of meeting the EOS performance requirements.
those who hold tokens on a blockchain adopting the EOS.IO software may select block producers through a continuous approval voting system blocks are produced in rounds of 21. At the start of each round 21 unique block producers are chosen. The top 20 by total approval are automatically chosen every round and the last producer is chosen proportional to their number of votes relative to other producers.
If a producer misses a block and has not produced any block within the last 24 hours they are removed from consideration until they notify the blockchain of their intention to start producing blocks again. This ensures the network operates smoothly
In the event there is a fork, consensus will automatically switch to the longest chain
Transactions are proof of stake.
You can also create an account with a readable custom name and as oppose to sending eos to a randomly generated address - you can just send it to their name.
There can be multiple accounts per key and
Within this account creating system, there is also a hierarchy. Owners, being at the top, can control everything about the accounts it has authority over as long as the owner
knows the private key of those accounts.
This system also provides users a way to restore control of their account when their keys are stolen.
Scalability, 0 fees and low latency
EOS uses many many interconnected blockchains/threads to process all the transactions with each single thread being able to process thousands of transactions per second and together being able to process millions. Using this method - EOS could always just add more threads if needed pretty much allowing it
to scale infinitely. All of this with 0 fees as block producers are rewarded with new eos tokens in which the amount of tokens rewarded is determined by the governance. EOS also uses DPOS BFT technology along with graphene tech to allow for each thread to process thousands of TPS ( Aiming for 50k per thread I believe ) along with sub-second latency with 0.5 second blocktimes.
Block producers propose a change to the constitution and will have to obtain at least a 17/21 votes on that change.
They then have to maintain this approval rate for 30 consecutive days
After which All users will be required to sign transactions using the hash of the new constitution.
Block producers adopt changes to the source code to reflect the change in the constitution and propose it to the blockchain
Block producers would then have to maintain a 17/21 rate approval for another 30 consecutive days just show whether they like how the code was changed.
Changes to the code then take effect 7 days later, giving all full nodes 1 week to upgrade and
All nodes that do not upgrade to the new code shut down automatically.
EOS uses WebAssembly as a programming language in their vitual machine allowing for the building of high performance applications.
C or C++ can also be decompiled into webAssembly.
The Ethereum virtual machine which has been used for most existing smart contracts on ethereum and could also be adapted to work within an EOS.IO blockchain.
Raised 4 billion USD. Currently has announced for 1 Billion USD to go into to a fund to allow for the creation of thousands of dapps on EOS.IO
EOS world records:
Currently has handled the most TPS on a public mainnet ever: 3972 (bloks.io)
Currently the fastest live blockchain ever with a blocktime of 0.5 seconds.
The most used blockchain ever by far (blocktivity.info)
Best funded crypto software project in history with 4 billion raised.