General Overview - EOS is a blockchain operating system for commercial scale decentralized applications. EOS.IO is software that introduces a blockchain architecture designed to enable vertical and horizontal scaling of decentralized applications (the “EOS.IO Software”). This is achieved through an operating system-like construct upon which applications can be built. The software provides accounts, authentication, databases, asynchronous communication and the scheduling of applications across multiple CPU cores and/or clusters. The resulting technology is a blockchain architecture that has the potential to scale to millions of transactions per second, eliminates user fees and allows for quick and easy deployment of decentralized applications.
EOS is defining what it means to consolidate. A sideways trend with tighter support and resistance levels are shown with the two red trend lines. Internal momentum is non-existent as the ADX indicator and directional index lines all converge and drop. This should keep indecision in this market for awhile.
Wait for a price break outside the red channel. Buy on a break of the upper trend line and sell on a break of the lower red trend line. Other than that, just hold and read the news.
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EOS.IO software utilizes the only decentralized consensus algorithm capable of meeting the performance requirements of applications on the blockchain, Delegated Proof of Stake (DPOS).
Under this algorithm, those who hold tokens on a blockchain adopting the EOS.IO software may select block producers through a continuous approval voting system and anyone may choose to participate in block production and will be given an opportunity to produce blocks proportional to the total votes they have received relative to all other producers.
The EOS.IO software enables blocks to be produced exactly every 3 seconds and exactly one producer is authorized to produce a block at any given point in time. If the block is not produced at the scheduled time then the block for that time slot is skipped. When one or more blocks are skipped, there is a 6 or more second gap in the blockchain. Using the EOS.IO software blocks are produced in rounds of 21. At the start of each round 21 unique block producers are chosen. The top 20 by total votes are automatically chosen every round and the last producer is chosen proportional to their number of votes relative to other producers. The selected producers are shuffled using a pseudorandom number derived from the block time. This shuffling is done to ensure that all producers maintain balanced connectivity to all other producers.
EOS was launched by block.one, a developer of blockchain technologies for businesses.
Brendan Blumer, CEO: Involved in the Blockchain industry since 2014, Brendan is a serial entrepreneur who has built businesses including trading of virtual currencies in MMORPGs in the US, okay.com in Hong Kong and 1Group in India.
Daniel Larimer, CTO: A serial entrepreneur focusing on innovative technologies ranging from virtual reality simulators to second-generation crypto currencies, most notably BitShares. Dan is a specialist in software development and the inventor of the widely adopted “Proof of Stake” and “Decentralized Autonomous Corporations” concepts.
Ian Grigg, Partner: A financial cryptographer who has been building cryptographic ledger platforms for over 20 years, Ian is the inventor of the Ricardian Contract and the co-inventor of Triple-Entry Accounting.
EOS.IO Dawn 2.0 has been released along with a public test network which will be maintained by the block.one team.
- New Features in Dawn 2.0
Resource Usage & Rate Limiting, Bandwidth, Computational Bandwidth, Database Storage, P2P Network Code
- EOS Dawn 3.0
EOS Dawn 3.0 will re-introduce horizontal scaling of single chains and infinite scaling via secure inter-blockchain communication. With these two features there will be no limit to what can be built on blockchain technology, nor for how decentralized the network of blockchains can become.
“With EOS Dawn 3.0 we will be restoring the ability to do multi-machine horizontal scaling by use of up to 65,000 different regions. All regions will share the same accounts and contract code, but have independent in memory databases. Contracts within one region must use asynchronous transactions to communicate with their counterparts in other regions. With this architecture a single block producer could be implemented as a cluster." -Block.one