EOS Blockchain Talks

#1

Although we are all here for the XYO Network project, another one that makes me really excited is EOS. And if I remember correctly, also @scott was personally very interested in this one!

For those who are not following the project here I’d like to drop here the most interesting concept of EOS in my personal opinion which is their consensus mechanism:

EOS operates with a consensus mechanism called DPoS (Delegated Proof of Stake), Ethereum instead uses the PoW (Proof of Work) consensus mechanism. For PoW the blockchain generates a puzzle that must be solved in order for the transaction to be validated. And to solve the puzzle a device called GPU is needed as the calculations to solve the puzzles are intrinsically complicated. With the DPoS instead, every person who owns an distinctive amount of coins can help to verify the transactions.

Once the transactions are verified a reward is expected for those who validated. In PoW case the rewards goes to the Miner who resolved the puzzle first. In DPoS case the rewards are giving based on the amount of coins hold.

Honestly I must say that even though Ethereum had an enormous success in the market, in the long run I see EOS being the best project on blockchain. This is for many reasons: the GPU device requires a lot of energy to operate and therefore is damaging also for the environment (and for your electricity bill). Secondly Ethereum has limited coins while EOS will put in the market 5% of the coins every year becoming therefore more scalable. Last but not least, Ethereum blockchain can make a maximum of 15 transactions per second, due to its mechanism while DPoS successfully achieved 1000+ and by plan would try to pass 1 million which is fundamental, if we have in mind to build an economy around crypto currencies.

Share your opinion if you feel you, and add new topics regarding EOS!

Cheers everyone!

PS: XYO consensus mechanism is pretty cool too :sunglasses:

3 Likes
#2

Er,… ETH is switching to POS soon?

#3

Well that’s the idea they are thinking about, but yet not implemented.

If some news pops up regarding this, please share it!

I just initiate this topic to learn more and stay focused on changes in blockchain world!

#4

https://www.reddit.com/r/ethereum/comments/7vrbwq/when_is_ethereum_expected_to_switch_to_pos/
Proof of stake and Masternodes are what I like!!

I am getting approx 3-4000 KB3 coins weekly from my % ownership of the KB3 FN Pool for the KB3 Masternodes rewards!!

Then the stake rewards too!! Got to LOVE a bank account you get paid into daily for no extra work :slight_smile:

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#5

Absolutely! PoS above all :rofl:

But one other thing is actually that shifting to PoS wouldn’t be enough, because Ethereum might at this point achieve 1000+ transactions per second that’s true, but EOS might arrive at 1000000+ (or at least it’s their goal!)

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#6

But ETH will for sure be the system for XYO in the short term it seems?

But yes im backing EOS too!!

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#7

Great topic Fede,
I have been following EOS for some time now and I agree with what you say.
Their whole voting system for node selection I think is great, if decentralisation is one of the goals of blockchain, then they are going about it the right way. Massive mining pools are heading towards a centralised system.
Delegated proof of stake DPos seems to me the best way to power a blockchain invented to date. I love the idea of voting, its a democratic system in action. I hope that XYO implements much of the ideas EOS is breaking ground on.

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#8

The Ethereum fork is looming.

https://www.coindesk.com/ethereum-is-testing-code-for-its-next-hard-fork/

#9

I am a fan of EOS for the technological scaling. It’s governance model leaves a bit to be desired IMO which is why I hodl EOS and ETH. At XYO we are big fans of all technology that’s advancing the frontier and EOS is near and dear to me personally as I know some people working on the EOS project. Here at XY we will be working to integrate it well into the XYO ecosystem.

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#10

Hi Nate and community… I have concerns about EOS. er that is… the people behind it, a few have left the project. the main problem right now is with Tether and Blockone and Noble bank. Im a HODLr for XYO… and I would be for EOS, but only after the dev’s at EOS who are left holding the project. here’s a link for video on what’s about to happen. We all need to protect ourselves. Heads up.