One sentence to describe EOS.IO: High-performance, next-generation blockchain underlying operating system.
EOS.IO software is a dynamic general-purpose underlying blockchain platform that Block.One is developing, upon which applications can be built. It is also a blockchain architecture designed to enable vertical and horizontal scaling of decentralized applications.
EOS provides accounts, authentication, databases, asynchronous communications, and the scheduling of applications across many of CPU cores or clusters. It results in a blockchain architecture that can scale millions of transactions per second, eliminate user fees, and allow for quick and easy deployment of decentralized applications.
Under what background did EOS appear? What sore point does EOS solve?
Bitcoin did not realize Turing Completeness, thus unable to support a wider range of applications. Meanwhile, Bitcoin also exposed problems such as low processing speed and high commissions.
Ethereum was born to execute smart contracts. The biggest improvement was to support Turing Completeness and to become a programmable blockchain network system, whose main use is now reflected in ICO to issue tokens.
In order to avoid hacking attacks and infinite loops consuming all network resources, a gas charging mechanism has been designed, which makes it impossible to build large-scale universal applications on Ethereum. Imagine that if a blockchain social platform runs on Ethereum, the cost of messaging between users will be extremely high.
Besides, there is a 15 seconds delay for each new block of Ethereum, which has no effect on the Ethereum Wallet; however, the delay is too long for features such as posting articles or giving likes.
The existing blockchain platforms have pain points like slow transcation speeds, high transaction costs, high system concurrent processing difficulty, security flaws and development difficulty, thus hindering the large-scale application of blockchain technology.
To be a successful blockchain application platform, it is necessary to meet following requirements, supporting millions of users, free usage, easy upgrades and bug recovery, low latency, sequential performance, and parallel performance.
EOS is aiming at the goal of being an operating system that can truly support commercial-level applications.
What is EOS mapping and why do we need to do EOS mapping?
Since EOS blockchain has not come out yet, the EOS tokens in everyone's hands are just "temporary EOS" based on the ERC20 token standard. After EOS's independent public chain officially forms its main chain, everyone’s EOS tokens can to be replaced with the “real” EOS through mapping. That is to say the mapping process provides a bridge between Ethereum and the main chain of EOS, to map EOS tokens on Ethereum blockchain to EOS public chain.
In the past few days, exchange platforms such as Huobi Pro, Binance, OKEX, CEX, COIN TIGER, and ZB have all issued announcements saying that they support EOS main chain mapping. That is to say, EOS tokens stored on these exchange platforms will be automatically changed to real EOS after the EOS chain is online.
About Airdrop and Snapshot
After the snapshot is completed, if tokens have not yet arrived at the wallet, can EOS be transferred?
The answer is “Yes”. Many people may not quite understand the meaning of the snapshot. We can use photography as a metaphor. If you are ready to take a picture now, you will make a pose and keep still. This means that all the money will be deposited in a wallet that supports airdrops, and the EOS holdings of all users will be recorded at the moment of the snapshot.
Even if the airdrop coins haven't arrived yet, can the EOS in the wallet be transferred? Of course, because the EOS you have stored in your wallet has already been recorded.
Therefore, if you want to get airdrop coins, just need to make sure when snapshot happens. As long as the snapshot is over, EOS can be transferred.
About Super Node
Q: Why do we need 21 super nodes?
A: Everyone knows that the operation of the blockchain is decentralized, which needs people to contribute network computing and storage capabilities.
So why are people willing to contribute their own resources? It certainly requires a reasonable incentive mechanism to motivate them. In Bitcoin's operating mechanism, the people who contribute hashrates are called miners and they have the opportunity to receive Bitcoins as rewards. Everyone can become contributors of hashrate to participate in accounting and have access to mining incentives.
In the Delegated Proof of Stake (DPOS) algorithm of EOS, to ensure the efficiency of calculations, not everyone can participate in accounting, instead 21 super nodes and 100 spare nodes will be selected to do this job. The 21 super nodes, which bear responsibility, will also share the economic benefits and governance rights accordingly.
About EOS voting: one vote for 30 shots
Q: Can I vote now? What does “one vote for 30 shots” mean?
A: Since Block.one has not yet issued a specific voting rule, at present, we cannot vote for the super node candidates. Everyone can log into EOS AntPool official website to fill in participation form. After Block.one officially publishes the voting details, AntPool will publish a tutorial ASAP to teach everyone vote.
The EOS voting rule is that one EOS corresponds to one vote, which means that the number of your votes is equal to the amount of your EOS. Holders can vote for no more than thirty campaign nodes. They can choose to give abstention vote, or to vote for several super-node candidates, or only to vote for AntPool.
AntPool EOS official website: https://www.eosantpool.com/
What can EOS do?
Q: What can we do with EOS except for voting?
A: EOS can be used as a certificate allowing access to EOS system/software resources (such as bandwidth, storage space, etc.). Its amount determines the resource capacity that you have, and these resource capabilities determine the speed of your software and the number of users it can hold. Developers, who wish to build Dapp on EOS in the future, will need to hold a certain amount of EOS to ensure the smooth running of applications. In addition, users may use EOS instead of ETH crowdfunding blockchain to receive airdrop candy in the future.
About EOS
Q: Why does EOS have a 1% to 5% increase every year?
A: A certain percentage of additional issuance per year is actually an incentive for DPOS mechanism. Unlike Bitcoin with POW mechanism, people cannot obtain EOS block rewards through mining, and also unlike ETH, any operation on EOS will not be charged. Therefore, for the healthy and dynamic development of EOS community, it is necessary to issue an additional 1% EOS per year to reward 21 super nodes, which can be used to compensate their hardware expenditures when developing communities and incubating Dapp.
About DPOS mechanism
Q: How to evaluate some people's criticism of EOS' DPOS mechanism being a centralized mechanism?
A: The DPOS mechanism is the result of a consistent adjustment between decentralization and efficiency. The consensus mechanism is the key to blockchain project, while EOS uses the DPOS consensus mechanism. Compared to POW and POS, the biggest lightspot of DPOS is speed and efficiency. But everything has double-sided effects, to achieve the legendary TPS of millions per second, we have to reduce the number of nodes. And 21 nodes can properly balance the degree of decentralization and the efficiency of block generation.
About EOS transaction speed
Q: Once the EOS chain is online, can transcation be as fast as millionth level as described in the white paper?
A: EOS uses graphene technology with very strong concurrency. Graphene based BTS and STEEM can achieve an average confimation speed of 1.5S and 3300TPS data throughput under limited conditions, and Byzantine Fault Tolerance (BEF) is added to obtain a maximum of millions of TPSs in a parallel chain, and the confirmation speed in parallel local chain can even reach millisecond-level.
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Official Website https://www.eosantpool.com
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