The Dawn of EOS.IO

in eos •  3 months ago

In the EOS.IO Technical White Paper, we proposed the EOS.IO software as the dawn of a new era of blockchain computing. The EOS.IO development team has spent the summer working very hard. Summer is over and the development of the EOS.IO software is ahead of schedule. It can now be used with distributed network configurations. We have a lot of exciting EOS.IO software developments to report so be sure to read to the end!

Proof of Performance

Now that the EOS.IO software can be used in distributed network configurations we can benchmark its performance. Our internal testing shows that the software is currently able to sustain over 10,000 single threaded transactions per second on a multi-node network. This puts it on track to support over 1 million transactions per second on machines with over 100 CPU cores.

Advancements in Design

Developers will be excited to learn that our latest architectural software improvements make it easier than ever to build parallel applications that communicate with each other.

Shared Database Access

We have now enabled one application to read the database state of another application without requiring complex asynchronous communication. We achieve this while preserving the ability to execute in parallel by allowing each transaction to declare the scope (data range) that it needs to read or write access to. Block producers will schedule transactions so that there are no data conflicts.

User Local Storage of Application Data

In addition to supporting read access across accounts, applications can now store data on other accounts. This means a currency contract can store the balance on individual user accounts rather than within its own scope. A transfer from Alice to Bob only requires read/write access to the scope of Alice and Bob and won’t affect the currency contract’s scope. This makes many classes of applications trivially parallel and enables processing of currency transfers in excess of the single threaded throughput limit. As far as we are aware, no other blockchain design supports such a scalable and easy approach to developing parallel software architecture.

Inline Message Passing

It is now easier than ever to send a message to another application and know with certainty that it will be accepted and validated. An application can generate any number of additional messages to append to the end of the current transaction. So long as these generated messages share the same read/write scope and can execute within the allotted time, they are guaranteed to be delivered or the entire transaction will unwind.

This approach is different than the synchronous approach used by other platforms. Synchronous message delivery, which blocks execution of the current thread until it returns, creates the potential for unanticipated reentrancy. Reentrancy has been a source of numerous bugs and exploits because it is difficult for developers to ensure their contract is in a consistent state prior to making a synchronous call. With inline message passing, which delays execution until the end of the current transaction handler, developers can dispatch a message and proceed as if it succeeded. If it fails then the entire transaction will be unwound without any harmful side effects. This means your message handlers are never called in an inconsistent state.

Deferred Message Passing

Sometimes you don’t know if a message is valid or whether there is enough time left on the clock to execute inline with the current transaction. Other times you need to send a message that accesses data outside the scope of the current transaction. In this situation applications can request the block producers schedule a message to be delivered in the next cycle or a future block. If it is valid then your application may be notified; if it is not, then it will never be scheduled and your application can clean up after a timeout.

Unlimited Horizontal Scaling

The latest design advancements in the EOS.IO software gives developers high single-machine performance; businesses can scale to a million transactions per second before requiring a more complex asynchronous architecture.

That said, the EOS.IO software will still support asynchronous message passing among groups of applications that do not need to share state. There are many benefits to async message passing (such as trivial cluster support), but those benefits come with the cost of greater development complexity; the EOS.IO software supports this for businesses that require several millions of transactions per second, but offers a streamlined approach for those that don’t.

Next Generation Network Topology

The EOS.IO software is designed to empower block producers to provide a high performance decentralized infrastructure as a service. Application developers need more than a set of block producers aggregating transactions, they need API nodes, seed nodes, database indexes, storage, and hosting.

High performance blockchains demand high performance network architectures with very different requirements from existing blockchains. At a million transactions per second each node is required to achieve 100’s of megabytes per second per connection. This is trivial for large data centers, but inconceivable for home users.

Additionally high performance blockchains consist of heterogeneous nodes running different subsets of the blockchain and will likely prune the transaction history. This is a significant departure from prior blockchain systems where all nodes are identical and have a full history.

A traditional blockchain consists of a dynamic set of randomly connected nodes in a mesh network. They target home users with limited bandwidth and are designed to traverse home routers (NAT) and dynamically add nodes to the network. Our observation is that this architecture is not well suited for high performance blockchain infrastructure.

The EOS.IO software starts with the assumption that all nodes are intentionally connected to each other. Node operators work together to ensure the network topology is secure, well planned, and efficient. This allows block producers to establish direct (and secure) connections to each other and prevents attackers from scanning the entire network topology looking for nodes to shut down.

The block producers will host public endpoints which anyone may connect to and subscribe to any subset of transaction data they desire. This will minimize the bandwidth requirements for full nodes operated by non-block producers. Nodes that do not want to trust a single block producer may either subscribe to multiple sources or wait for confirmation by ⅔ of the block producers (about 45 seconds).

The benefit of this architecture is that new nodes can connect and synchronize at very high speeds from high bandwidth infrastructure provided by the block producers. Furthermore, this architecture is designed to facilitate efficient unidirectional streaming rather than less efficient bidirectional protocols.

At scale, block producers will be operating a new internet backbone powered by EOS.IO software. Block producers will be like Tier-1 Internet providers with dedicated fiber optic connections across continents. These producers will operate data centers that Tier-2 subscribers can connect to. Tier-2 includes anyone looking to run a full or partial node or a large application. For example, services like block explorers, web wallets, and crypto-currency exchanges would be Tier-2 subscribers to the block producers.

We feel this architecture of intentional cooperative network building will enable block producers to offer a quality of service unique in the cryptocurrency industry.

The Road Ahead

In September of this year, block.one will be releasing EOS.IO Dawn 1.0 which should be stable enough and well documented enough for anyone to launch their own test network upon which they can build and deploy their applications. EOS.IO Dawn 1.0 will be the first pre-release of our EOS.IO SDK (Software Development Kit).

Those who have followed our EOS.IO Roadmap will be happy to know that we are ahead of schedule. Phase 1, The Minimal Viable Testing Environment, which includes a standalone node, native contracts, virtual machine API, RPC interface, command line tools (eosc), and basic developer documentation is complete. We will be making a tagged release as “EOS.IO Dawn 1.0”. This phase was scheduled to be complete in Summer 2017 which ends on September 22.

We have already completed half of Phase 2, the Minimal Viable Test Network. This phase is scheduled for completion in Fall 2017 and includes working networking code, virtual machine sandboxing, resource usage and rate limiting, genesis importing, and inter blockchain communication. At this time we already have functional distributed networks and virtual machine sandboxing. We are confident that we will complete Phase 2 on schedule.

EOS.IO Dawn 2.0, the next major pre-release, will come by the end of the year. EOS.IO Dawn 2.0 will include several critical features that are not present in EOS.IO Dawn 1.0 including:

  • Resource Rate Limiting (preventing spam / abuse)
  • Merkle Tree Generation (for cross chain communication)
  • Upgrade Management and Governance
  • More robust SDK
  • General Infrastructure improvements
  • Example Snapshot from ERC20 tokens

The goal of EOS.IO Dawn 2.0 is to be functional enough that one could launch a live blockchain.

One More Thing….

EOS.IO Storage!

For the first time, developers will be able to create and deploy a decentralized application and web interfaces without having to worry about bandwidth and storage costs, or even hosting any servers themselves; this enables a host of new innovative decentralized business models, such as a decentralized YouTube, Soundcloud, or other storage-intensive projects.

In addition to computational bandwidth, native EOS.IO software-based blockchain token holders will now have access to free cloud storage, hosting, and download bandwidth via IPFS / HTTPS; this access can be used without consuming or transferring tokens.

To achieve this, block producers will host files via IPFS/HTTPS for users and allow other users to download those files. Storage resources are paid for through blockchain emissions and are rate limited to token holders pro-rata to their holdings; like the EOS.IO bandwidth model, storage does not expend EOS.IO software-based blockchain tokens and per-token storage capacity will increase over time with block producer hardware upgrades.

The EOS.IO software storage solution can also support public hosting for those who don’t have any tokens; more details will be released at upcoming blockchain industry events occurring in Shanghai and London.

Disclaimer

block.one is a software company and is producing the EOS.IO software as free, open source software. This software may enable those who deploy it to launch a blockchain or decentralized applications with the features described above. block.one will not be launching a public blockchain based on the EOS.IO software. It will be the sole responsibility of third parties and the community and those who wish to become block producers to implement the features and/or provide the services described above as they see fit. block.one does not guarantee that anyone will implement such features or provide such services or that the EOS.IO software will be adopted and deployed in any way.

All statements in this document, other than statements of historical facts, including any statements regarding block.one’s business strategy, plans, prospects, developments and objectives are forward looking statements. These statements are only predictions and reflect block.one’s current beliefs and expectations with respect to future events and are based on assumptions and are subject to risk, uncertainties and change at any time. We operate in a rapidly changing environment. New risks emerge from time to time. Given these risks and uncertainties, you are cautioned not to rely on these forward-looking statements. Actual results, performance or events may differ materially from those contained in the forward-looking statements. Some of the factors that could cause actual results, performance or events to differ materially from the forward-looking statements contained herein include, without limitation: market volatility; continued availability of capital, financing and personnel; product acceptance; the commercial success of any new products or technologies; competition; government regulation and laws; and general economic, market or business conditions. Any forward-looking statement made by block.one speaks only as of the date on which it is made and block.one is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, subsequent events or otherwise.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  trending

I thought it was interesting; Dan made it pretty clear in his last video interview I saw, he expects EOS will eventually power wallstreet.

Very interesting... he may very well be right; they will be interested in Fabric...

·

You may or may not find this revealing, but here goes..

I find it more than interesting that EOS has just released an SDK called "Dawn." The reason I find this interesting is the Eos was a Titan and the Greek goddess of the Dawn. Eos is also known traditionally as the "Harbinger of Lucifer" and that's why the name of Lucifer in Greek is "Eos-phoros."

If you'd like to understand a bit more about this then you should have a read of my recent post on EOS and all the strange, Luciferic symbolism associated with it.

The link to my post on EOS symbolism is here.

·
·

Lucifer invites you to take a byte of the apple hanging on the Merkle tree end enter the space of knowledge...

·
·
·

You mean this Apple?

Apple.jpg

Yes he does.. especially through the new iPhone X facial biometrics features to track everyone into a New World Order for only $999 (666 upside down)

·

Nice :)

·

lol hope u guys not miss your chance ;)

·

This made me laugh and explains it so well. Thank you!

·

Interesting meme to use in regard to EOS's disclaimer I'd say, but I like it for that reason! (since he isn't actually looking at her forward :)

·

I agree, EOS, she's a real head turner, make your steady very upset...

What a powerful token added up to the BitShares family!

Thank you so much for sharing all this information about it and wondering how to go about it if I were to buy some, either via fiat money or cryptos, any tips???

All for one and one for all! Namaste :)

·

If you want to buy EOS using Fiat money, the easiest way to do it would be through https://www.coinbase.com/ as your first step, here's how:

1 - Open a Coinbase account and link it to your debit or credit card (or alternatively, transfer USD, EUR or GBP to it)

2 - Buy BTC or ETH through your Coinbase account

3 - Send the BTC or ETH to an exchange such as https://www.kraken.com/ to trade for EOS, or alternatively, use services such as https://shapeshift.io/ or https://changelly.com/ (if you prefer to stay away from exchanges)

4 - Once you buy your EOS tokens, make sure you send them to your wallet (this mainly applies if you're going to use an exchange) and DO NOT leave them on any exchange. Buy a hardware wallet such as https://trezor.io/, https://www.ledgerwallet.com/ or https://www.keepkey.com/. Trezor is my favourite hardware wallet and it supports https://www.myetherwallet.com/, which means you can store any ERC-20 token on it, including EOS.

5 - After you receive your EOS tokens into your wallet, make sure that you register them by mapping your PUBLIC Ethereum address to the EOS PUBLIC address. Here's an article which explains how this is done for the EXODUS wallet, just replace anything related to EXODUS with the wallet that you will be using: https://goo.gl/36yDtS

Other helpful articles:

How to transfer EOS ERC20 tokens using MyEtherWallet: https://goo.gl/dgCsyJ

How to update the EOS public key mapped/registered to your ETH Address with MyEtherWallet (MEW): https://goo.gl/TSq52F

·
·

Wow! Thank you so very much, this is worth a full 100% upvote as it is worth an article in itself! Awesome answer, your teaching, time and dedication are highly appreciated. Namaste :)

·
·
·

Pleasure @eric-boucher

To stay updated on the latest crypto currency news, tips and developments, visit my Cryptoland website at https://cryptoland.co.za/ and please bookmark and share the link with your friends, thanks :)

·
·

I had bought EOS from the ICO Page using Metamask. On the ICO Page they have a register button and I did that. DO I need to register the Public Address again via the process mentioned above or do you think that is enough? Please let me know....thanks!

·
·
·

Unfortunately, I don't have any experience with Metamask. But here's how you'd check which public key is mapped to your ETH address with MyEtherWallet (MEW): https://goo.gl/VY9Ypy

·
·

If you are waiting on a hardware wallet, can you transfer your EOS to your ETH wallet on JAXX??

·
·
·

I don't think JAXX currently support EOS tokens (https://goo.gl/J88z4R).

Before I received my cold/hardware wallet, I transferred my EOS tokens from the exchange to my EXODUS wallet https://www.exodus.io/ which I downloaded and installed on my computer.

It's still risky, depending on how secure your computer is and whether it has malware or virus on it, especially if it's a Windows machine. Once you receive your hardware wallet, you can then send them to your new wallet's address directly from your EXODUS wallet.

You can find more info about the EXODUS wallet security here https://goo.gl/GW4sw7

·
·
·
·
·
·
·

I've covered my favourite wallets here https://cryptoland.co.za/bitcoin-wallet/

·
·

I had no idea I even had to register my EOS tokens until I read this. Thanks for posting this info.

·
·

Goodmorning Thank you for sharing! Have a nice day

·
·

Thanks for the info! Question about No. 4: Why not leave EOS on an exchange?

·
·
·

Because exchanges are a primary target for hackers and get hacked all the time. When you leave a crypto currency on any centralised exchange, you technically don't own it, since you don't hold the private key to the wallet where it's stored, the exchange has it, and that's what hackers are after so they could move that crypto out and into their own wallets. And every now and then, they end up running away with "your" crypto. You're only safe (relatively speaking) if you (and only you) hold the private key to your wallet and no one else. That's why you need a cold/hardware wallet like Trezor, Ledger Wallet or KeepKey - there are other methods of course to hold your private keys but these are very secure and practical - anything else, is playing Russian roulette with your crypto.

·
·
·
·

This is very interesting. With Steemit, there is a built-in delay for withdrawal, which should serve as a safeguard of sorts.
Peace.

·
·

Thanks for tips. However, I got question. Do I need to register tokens which I bought on exchange (Kraken) or exchange will do it on my behalf? Thanks

·
·
·

Here's what you always need to keep in mind when dealing with any crypto currency, including EOS. Whoever holds the private key of the wallet where the coins are stored owns those coins.

When you leave your crypto with an exchange, they basically own them and not you, since they hold the private keys and not you. That's why, you should never leave your crypto except on a cold/hardware wallet that only you have access to its private key.

Remember, tokens are never actually stored in any wallet as such, they live on the blockchain, that's the whole point. What lives in your wallet is the private key which can decrypt that wallet and allow those coins to be sent to another address on the blockchain. So your wallet actually holds a key and not the crypto themselves, as those reside on the blockchain.

So, to answer your question, yes, you need to move those EOS tokens from any exchange to a wallet of your choice which supports ERC-20 tokens. You can use https://www.myetherwallet.com/ (known as MEW) for this, but preferably buy a Trezor cold wallet so that you could unlock your MEW wallet safely with it, and that way, your private key for your MEW wallet would be safely stored on the Trezor device which is extremely difficult (if not impossible) to remotely hack (unlike a computer or a mobile device).

Once you move your EOS tokens to your MEW wallet, you need to map your wallet's Ethereum public address to your EOS public address as I explained in my original post. If after some time you decide to move your EOS tokens to another wallet, you'd then need to repeat the same process, otherwise they would be mapped to a wallet that no longer holds them, and you would therefore lose them when the ICO comes to an end.

·
·
·
·

Thanks @zedchamaa. Really appreciate your answer. I am moving my tokens to private wallet.

·
·
·
·

But don't you think that (except the secutity issues that you underline) as long as you can trade your EOS on the exchange at the main rate they are mapped on the public eos adress?

·
·
·
·
·

No they're not, you have to map your EOS tokens to your own public EOS address which gets randomly generated, otherwise, you won't be able to use the EOS tokens once the ICO has ended: https://goo.gl/TSq52F

·
·

I had no idea I have to register my tokens. Thanks for your very clear and through response. @zedchamaa

·
·
·

You're welcome @carlosmertens - you only need to register them once unless you move them to another wallet, in that case you'd need to register them again (as the new wallet would have a different Ethereum public address to the one you were using).

As long as the Ethereum public address of the wallet you're using to store the EOS tokens is mapped to the EOS public address which you would have generated and for which you only hold the private key, then you should be fine once the ICO has ended.

·
·

So I need a Lawyer, an accountant, and a webmaster, in order to buy EOS? In other words I did not understand a word of what you typed. When are "Laymen", ordinary people going to be able to understand any of the crypto currency exchanging. It really does sound like one big brother, secret hand shake club. 5 steps to buy an invisible coin. Someone needs to make it easier.

·
·
·

I agree with you that the crypto currency space is currently still very technical because the blockchain technology is still at its infancy and is therefore mainly driven by developers and highly technical people. More work needs to be done to make it mainstream. This is happening, but it takes time.

To stay updated about the latest crypto currency news, tips and developments, visit my Cryptoland website at https://cryptoland.co.za/ and please bookmark and share the link with your friends, thanks :)

·
·

Why is it necessary to register EOS tokens? I'm missing something

·
·

I need help I made payment of 2 Ether to the EOS contract address and I cannot get my EOS token and diffificult adding the EOS public key to myetherwallet,what should I do?

·

Upload an Exodus wallet. You can trade it with other cryptocurrencies right inside that wallet. It's pretty cool.

·
·

Thanks a bunch for the suggestion, it is a powerful path to take. Namaste :)

·
·
·

But please, remember to map your EOS key before the ICO ends. And Exodus is not suitable for that part of the process. For now, sure you can trade and hold EOS easily with Exodus.

https://steemit.com/eos/@sandwich/how-to-update-the-eos-public-key-mapped-registered-to-your-ethereum-wallet-with-myetherwallet-mew

·
·
·
·

Thanks a lot for the heads-up! Namaste :)

·

You can buy EOS tokens on Bitfinex or Binance exchange. Or you can send ethereum and receive EOS tokens as part of the crowdsale following instructions on the EOS website.

·
·

Thanks a bunch for the straightforward instructions! Namaste :)

·

Let me add another suggestion for you regarding coinbase.

Once you have funds in your coinbase dollar wallet, you can then transfer them instantly to GDAX.com, which is owne by coinbase. The transfer is free and instant.

Next, purchase bitcoin using a "limit" order on GDAX. This will also have ZERO fee. Then transfer your bitcoin out of GDAX to wherever you need it. Again, no fee other than the btc network transaction fee.

Depending on how much your are buying/transferring. This can save you a substantial amount of money in fees.

·
·

Great points added up to the arsenal of goodness that came my way already, thanks a bunch! Namaste :)

·
·
·

No problem, we're all in this together. :)

·
·
·

The one major problem I have with coinbase is the week delay on bank transfers. That's just insane. It's not a big deal if you stagger transfers, but it's still a pain in the ass.

·

use exodus wallet, it is really simple

·
·

Thanks a lot for the input, I am usually using the BitShares Wallet... Is there more pros than cons to use the Exodus Wallet compared to the BTS Wallet? Namaste :)

·

YOu could just use changelly or shapeshift to swap BTC, ETH, LTC or whatever for some (if your in the USA and "forbidden" from buying (without a VPN) from the every 23 hour crowd sales. Just remember to create your EOS account and map it to the ETH address you keep your EOS ERC-20 token in (ERC-20 Tokens are just place holders for the EOS tokens to be swapped out 1 for 1 after platform launch projected for Jun/Jul 2018)

If EOS succed, its going to be hugeeee.

I have been looking forward to this since I heard about it. I will cover this article on my YouTube channel next livestream. Peace.

a really amazing project, looking forward to this crypto and planning to invest on it in the near future

EOS - here we come.. I am ready!

Greatttt

that's great!i will try to translate it to cn community

im such a huge fan of Graphene and EOS
id like to know if the blockchain replay issues from Steem wont arise in EOS case?

Also, does that mean that node operators will have to keep everyones files?

·

does that mean that node operators will have to keep everyones files?

It depends on what you mean by "node operator". I doubt it, as that is what the IPFS would be used for. However if you meant IPFS nodes then yes, but that is highly distributed and cryptographically very safe.

There was no doubt it could be prepared for a bullish start

When will we be able to try it out? I'm interested in how the IPFS thingy works.

After the Recent China banning ICO's event it seems that EOS was affected as well. So sad this news had to coincide with that event.

This news is Aweeesome!

The trading numbers look like nobody gives a shit...

·

for now, you got to remember people for get things fast and move to the next flavor of the week. wait till the project is ready for people to use ;).

·

The wide majority of investors and players in the crypto space are fueled by emotion. What until it starts shooting up a bit and the fear od missing out spreads around. They'll be tripping over each other to jump on board the EOS train. :D

EOS.IO Storage!
For the first time, developers will be able to create and deploy a decentralized application and web interfaces without having to worry about bandwidth and storage costs, or even hosting any servers themselves; this enables a host of new innovative decentralized business models, such as a decentralized YouTube, Soundcloud, or other storage-intensive projects.

I have read this part so many times already! OMFG! A real game changer. Thanks a lot for the hard work to the EOS team!

U guys ROCK!

still, I don't get the confidence on EOS..... it's being traded but actual users I don't feel it's growing

·

A seed does not become a tree overnight

·

The EOS crowdsale is ongoing. 2,000,000 token being sold every 23 hours for 350 periods. Today 10/27/2017 we are on period 123, average amount of donated ETH is devided by 2,000,000 to detirmine the price per EOS token in order to insure everyone gets the same price whether you buy 1 or 10,000. They have been collecting about 3,500ETH every 23 hours since period 99 or so (way more before that) or about $1,050,000USD EVERY 23hrs. The team is ahead of the scheduled road map and coming out with new innovations previously unthought of along the way.
Want to see something really awe inspiring go to this etherscan of the contract address
https://etherscan.io/address/0xd0a6e6c54dbc68db5db3a091b171a77407ff7ccf#tokentxns
and just randomly click on some of the ether addresses the tokens are going to and see how many multi million dollar account holders are buying this up. That should boost your confidence a bit. Big money always seems to be buying the right thing before everyone else. Most of these accounts started buying EOS at $2.00+, go look for yourself, they are still buying more at $.50
Take your time, understand how this one works (it is structured a bit differently than all the others) and scale into your position over the next 200 or so days and if they do what they say they are successfully doing it should be as big a move as Ethereum has been. Remember you are buying ERC-20 tokens (Ethereum tokens) that represent an equal number of EOS Tokens when the platform is launched, not the actual EOS tokens even though that is what they are named. This is the reason that you have to generate a EOS account key pair and map it to the ethereum address used to store your ERC-20 tokens. This way when the EOS platform is launched, the Ethereum smart contract can look into your ETH account and count the ERC-20 Tokens and send the same amount of EOS tokens to the mapped EOS address. The ERC-20 tokens become worthless at that point.
It takes a bit to wrap your head around, just ask questions until you get it, it will be worth the learning.
EOS is building a competing smart contract platform to Ethereum and using the Ethereum platform to do it, brilliant really. Some of the smartest people just can't seem to dumb down thier explanations of how it works to a level the rest of us can comprehend. It took me a while to grasp, but now that I do, I am a really strong believer in EOS. Will be scaling in till Jun 2018. Will post more on this account explaining it as we progress and I have time.
Hope this helps?
jax

Absolutely wonderful
"rest peacefully and wake up and rage"
Stxs
JOURNALIST
@acab1312news

10,000 single threaded transactions per second on a multi-node network? That makes bitcoin look like a turtle.

·

It makes bitshars look like a turtle and bitcoin a statue

·
·

Bitshares is like a starship and EOS like a starship fleet

·
·

bitcoin Is like Saturn V, then.

·

As does all graphene blockchains do (BitShares, Steemit, PeerPlays, GoLos....)

·

EOS works with super nodes, so it operating using a small what is effectively number of big servers as mentioned in the post with lots of cpu's. So although these figures are impressive, it's not nearly as decentralized as ETH, the government wouldn't be able to shutdown ETH, but EOS would be far easier. I'm an EOS holder because I believe the governments are moving towards crypto, therefore the threat of being closed down is getting lower as the weeks go by.

·
·

That's not true, ETH is not as decentralized as you think. EOS actually has a decentralization level that is more than a magnitude higher when you take into account the bottlenecks. Mining and normal proof of stake do not make you government-proof - it makes the coin more vulnerable to centralization. In the event of a government crack-down on crypto, EOS holders could just elect trusted block producers in the countries where it's legal. Miners would be moving to those countries anyway, DPOS would just be there instantly. Plus, DPOS block producers can keep their servers in faraday-cage bomb shelters, which solves some of the problems with disaster, nuke, and EMP. Plus, decentralized governance allows EOS to adapt to new situations whereas ETH has a centralized team of developers. Here's a good article:
https://steemit.com/eos/@dan/response-to-vitalik-buterin-on-eos

·
·
·

Tamwin33, thanks so much for speinkling some actual facts in the comments. There is more people do not understand than they do since ASICs kind of took over POW mining. EOS is a really brilliant approach in so many ways. They are now breaking into millisec transaction times and have not even launched. With the amount of money flowing into developement team every day and Dan Larimers commitment to building a better world for everyone to live in. . . what is the limit? Imagination?

upvoted and resteemed! love ESO

awesome

This is incredible and it has such huge implications for streaming industries like Netflix and video game companies.

Good work guys!

Really exciting update! Thank you so much. I got to the stage of compiling the system and was compiling some contracts a while back but got distracted by other things. With all these updates, I'm excited to jump back into it and play around some more.

Wow excellent! !! Good work. I think is time to buy more eos. Take advantage of the low prices!!

I very much like the part about EOS.IO Storage! =)

Keep up the great work! Looking forward to seeing more developments!

SCEWEEETTTTT :D Glad I picked up EOS a while ago at some love prices things like this normally make a coin sky rocket nicely done.

Good post fruend

WOW NICE JOB I LIKE IT THIS POST

nice post.thanks to provide info. EOS. in your post i understand what is EOS, it's blockchain process,it's software& storage.. your post really helpfull for me..thanks to sharing...

Exciting times!!
Will Steemit be able to use EOS to host something like dtube or even like a SteemTube?

It all sounds great, but have one concern...

If EOS.IO for file storage through inflation too, that's pretty neat, but doesn't it mean that people who have external storage plans will be subsidising the storage cost of others, such as apps like Viewly, which might have huge requirements?

Maybe I'm not understanding this properly.

·

Not really.

·
·

Whilst I'm very pleased to have a reply from the great man himself, any reasoning would be helpful.

Is this because all token holders receive the storage tokens, and can sell or delegate them to IPFS hosts?

To be clear, the storage would likely be very useful for the app I have in mind.

·
·

Thanks for clarifying this in the recent EOS Storage Whitepaper. It makes sense to me now, and I like the model.

Very well written, and released at the right moment with markets on full red, I am writing a piece right now about this with an analysis.
Go on EOS, you are about to be a king.

"this enables a host of new innovative decentralized business models, such as a decentralized YouTube, Soundcloud, or other storage-intensive projects." That sounds really cool! Can't wait for this thing to launch :D

I must say a very good job to the entire EOS team! I was on the fence where EOS is concerned, but now that you have released your MVP before the schedule gave me confidence that EOS is truly going to deliver what many saw way before many of us did. You guys are on point and it is obvious that you will deliver. Now I have moved off the fence and now I am in the middle of the arena. I see exciting things ahead. BIG ups to EOS.

your post is very nice, full pack of knowledge and very attractive :-)

i have one question for you guys.what is more important for you money or time. think about it

·

I suspect the answer is time, as Block1 has plenty of capital.

Congrats on being ahead of schedule.

Unfortunately it will be undervalued untill ico are taking place , fortunately more for us to accumulate

Good idea! One more step forward towards a decentralized society.

The graphene ecosystem is on a 24/7 IV drip of the meanest steroids known to the universe!

Excitement ensues.

Be interesting in it!!! Expect!!

Looking good

Very good improvements! It was a good job.

Too much token.
I want too like

So to summarize: you can store (for free?!), you can share, you can scale - I will be getting that SDK.

EOS is definitely something I have looked into getting and may still do so when I have the money for it. Will continue to watch, thank you for sharing this with us though!

Life! Liberty! Property!

This is awesome @eosio I'm glad you rekt him here.

I actually had a similar issue happen to me not too long ago with a few people doing the exact same types of things, DMing new users, poaching, harassing, etc.

Nothing is more frustrating than seeing someone try to take short-cuts, and abuse a community you have spent a ton of blood sweat and tears building and nurturing.

Props to you, keep rocking hard man!

What an absolute cunt. Just trying to give you a bad name so he can benefit for himself. I agree it is wrong that you are doing all the work and it definitely is fair for you getting a cut for providing him free traffic and a place to advertise.

·

Who are you referring to?

한국어 번역을 게시하였습니다.
I posted a Korean translation here:
https://steemit.com/eos/@dev1by0/eos-io-the-dawn-of-eos-io

Decentralized youtube...so everything you post can not be removed. Does that mean there will be adult videos on youtube that can not be removed. So children can watch it instead of Dora the explorer?

This is very exciting!!! I see EOS as the Ferrari of blockchain technology. I can't wait to see applications built on EOS, racing on the crypto-track.

This post was very informative thanks for sharing.
upvoted and followed.

Regards @ajaykumark !!

amazing project @eosio. Crypto Life!

We must admit #EOS project is Future and we can't wait for the full development. A team of brilliant competitive minds with hearts full of passion. Cant wait for more...

Excellent

This is great news..

EOS can now fight it out with Big Centralized Companies...

I only wish buying into the ICO was simpler...so even the not so technical people could participate.

Like if it was available on Blocktrades.us as a simple swap for Steem or SBD or Litecoin/Bitcoin

·

I agree @blocktrades, what about it?

·

You could use blocktrades buy DASH with steem or SBD then shapeshift DASH to EOS. Check out the Exodus wallet that has shapeshift, DASH and EOS natively.

·
·

not too sure about that

·
·

I give the Exodus wallet a big thumbs up!

Great report...but it is still not very clear to me: who pays for the storage cost? where the storage is locate? Who is making money for storage? If someone can explain in layman's term..thanks in advance...

·

We will explain in future posts.

nice post

the question is how we who dont know the programming can join in?

This is awesome.

Interesting information, thanks for sharing, regards

We have EOS, now all we need are end-users creating their own smart contracts. That will free up a lot of unncessary resources.

I really do believe in NEO.

It seems like people's biggest complaints are that they are merely buying into a "promise" for a platform, rather than a working platform. But the reality is that few crypto projects have even been finished yet. Many of us have half of our portfolios invested in ICO's! So I don't think that's an issue for most of us, if we're being objective.

The other thing is that the year-long ICO makes EOS inflationary. Well, sure. The only way to counter inflation is for interest to meet or exceed the level of inflation. But once the total supply is reached and the project is fully realized, EOS will skyrocket.

Every investment is risky, but high risk means high reward. I think this is the real deal. What are your guys' thoughts?

·

In the first sentence, did you really intend to write NEO?

·
·

LMAO no, but I do have plenty of it.

NEO has been on my mind lately, so that probably explains it. :D

·

EOS is mostly functional already, as Dan explains in his latest interview.
It's really the evolution of all his blockchain development over several years. Package it and be able to help apps build on top of the most advanced blockchain in existence. He seems to be mostly worried that it be distributed as far and wide as possible, so nobody can control it centrally. Big plans.

Yes, there may be many hard times ahead before we see where it goes. Ride it out.

Thanks for keeping an open communication with the community. Always great to see updates on the progress of this project.

One question: How many nodes have been implemented in a testing?

Similar performance can be eked out by current protocols in networks <64 nodes, but performance is significantly limited by a global network.

In addition, since EOS will limit host nodes to Tier-1 connectivity points (meshed network), what balance will be provided to ensure end users are not merely consumers and are in fact full participants. This seems similar to the current Internet setup with ISPs, and the consumer is always the loser.

Not intended as a negative critique, incredibly hopeful about the development being conducted. And again, the open communication bolsters confidence in the project!

·

Free market forces, I would imagine.

This seems similar to the current Internet setup with ISPs, and the consumer is always the loser.

ISPs generally operate under government granted monopolies, which are a major distortion of the free market. Customers have no power to vote ISPS that misbehave out of the marketplace.

Dan Larimer is the Elon Musk of crypto!

Great article, thank you for the detailed explanations

Without your own EOS blockchain, how does this impact the ERC20 token? What will it be used for????

·

once the EOS token moves to its own blockchain and the community decides to trade a one for one EOS to the new blockchain there will be a massive sell off in ERC 20 tokens because once you move on the ERC 20 EOS token will be useless. whatever the market cap of EOS is will end up being 0 or close to when EOS core is open.

This post was very informative thank you for sharing
you have my upvote
Keep smiling, reading, writing and voting!!!
@azziz

Nice to hear! If im back at home i will difinitely take a look at the whitepaper.

I was not sure if eos would be legit

Looking brilliant!! I will definitely increase my position this week :)

good info. We will keep track how it progresses

·

Converteacom Convertea tweeted @ 07 Sep 2017 - 09:21 UTC

Very crucial time for #EOS #crypto @EOS_io. Will the price explode or fall down? All should be clear till 13.00 UTC… twitter.com/i/web/status/9…

Disclaimer: I am just a bot trying to be helpful.

Through ‘ github ’, I am watching your hard work record everyday. You guys worked really hard. works on weekends.

When is the next major catalyst for EOS? There are a lot of negative conspiracy theories circulating.

In addition to computational bandwidth, native EOS.IO software-based blockchain token holders will now have access to free cloud storage, hosting, and download bandwidth via IPFS / HTTPS; this access can be used without consuming or transferring tokens.

EOS storage sounds incredible!!! Could this storage also be rented out?

I am still missing out in this. I have tried reading it over ten times. Maybe I might missing something

I'm super pumped on EOS and have been educating people on how to register them on heaps of FB groups etc.

I'm amazed at how many people are excited about the project but have absolutely no idea that they have to register the tokens...

Then there are droves of uninformed, apparently illiterate people claiming they've read everything there is to read on EOS and their assessment is EOS is a scam coin.

I'm so sure this is going to change the world, I've assisted most of my family and friends in making their first ever crypto purchase. I'm proud to say that every one of them have bought EOS as their first crypto investment :-)

I look forward to seeing the look on their faces when I show them what EOS is worth come Dec 2018 and beyond!

·

How can i thank you, you are my super supportive hero.

·

hopefully EOS prevails

Wow @dan that's so awesome EOS is going to be changing the game so soon 😄 I'm so glad to hear everything is going according to plan! The plan... Of Dan 😎 Keep up the awesome work man!

Thanks for the post looks good but what is the price that can reach in a year? 30$ maximum?

EOS appears undervalued and ready for large growth potential. I see a 20% discrepancy on exchanges while approaching fibonacci retracement (potential for strong rebound if the price reaches $0.50 USD), developer commits are at an all time high, their event roadmap is packed for September, they've launched a new website to announce dawn, and have one of the most strict token purchasing processes.

A lot looks good but I guess we'll have to see if organisations take advantage of their open source blockchain to build applications.

References: https://imgur.com/a/bCsR6

Hi @eosio , thank you for informing us about EOS.
I'm resteeming!

Thank you for sharing.

This is exciting news even though the technical aspects of the updates are out of my realm of understanding (for the most part). What I hear is that the EOS team is doing exactly what they said they were going to do, in exactly the way they were going to do it, and are ahead of schedule.
This is exactly why the crowd funding was spread out over time, those who wanted to wait to invest to see if there was actually going to be a working product first could do so, in fact, all the way through to next year. The whole project is brilliant in my view and I am excited to be apart of it.
peace

Hi @dan, I see you flagged my post. Apologies you thought there was plagiarism as I thought I gave enough credit in my post to EOS. I received the update via email and wanted to share it with everyone. In fact if you look at my posts EOS is just about all I promote as I believe in it 100%. Was I not allowed to use the image or should I have given the image credit separately to the content even though they came from the same source? In hindsight, even though I received the content via email should I then have gone to search for the content on steemit and resteem instead? No harm intended in my post, just wanted to spread the good news. I am a big fan of yours and constantly replying to those spreading the "EOS is a scam, have you read the terms and conditions" rubbish regarding the tokens on Ethereum. I will continue to buy EOS and spread news regarding EOS, didn't realize my post wasn't correctly published and thought I gave the credit correctly. Apologies, it won't happen again.

Hi @dan, just resteemed this post instead. Apologies again.

thanks for the information, this is very useful for me

nice post..follow and upvote

Upvoted and resteemed! Thanks guys, you doing great work. I am really happy that I am part of this great project. Looking forward to hear more news!