What is the likely platform on which EOS will be Mined?

in eos •  7 years ago 

Is there any definite plan for what Algorithm will be used to mine EOS? Is it still undetermined?

eos
7 years ago by

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      ·  7 years ago 

    There will be no EOS mining :)

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      ·  7 years ago 

    If there is no mining, where does the power to run eos come from? Where will the apps run? I see great potential for a block chain operating system, but what is the incentive to provide computing power?

    Please excuse my ignorance.

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      ·  7 years ago 

    There will be something similar like the witnesses here on Steemit. They are called producers

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      ·  7 years ago 

    EOS uses DPOS, which has 21 (101 total) block producers. They will produce blocks and make money similar to miners in POW. However token holders have discretion and can vote out bad actors, replacing them with one of the 80 "on-deck" producers, who only occasionally produce blocks until chosen as top 21. Additionally, token holders will be able to rent out their coins as they represent compute power, storage etc.

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      ·  7 years ago (edited)

    .

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        ·  7 years ago 

      So, then, how will EOS derive its computing power? Bitcoin miners provide the horse power for bitcoin transactions. Where will this horsepower come from with regards to eos?

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          ·  7 years ago 

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