EOS Library- not only for EOS beginners
1. What is EOS and how it works?
It’s the first blockchain operating system that enables much faster application development massively reducing costs. EOS token is never consumed and there are no fees in EOS. Instead, when you hold the token and you put it in a shaking contract, you get access to a percentage of the available resources proportional to the stake you have. So, if you have one percent of the EOS, you can use one percent of the total storage capacity of the entire network and when you use your storage, you can’t get your EOS back until you release your storage likewise you can get your consumed the bandwidth and the computational resources of the network proportionally (Larimer, 2017).
2. What is Constitution?
It is a peer-to-peer Terms of Service Agreement. The idea is that every any two parties can sign a contract in counterpart since as if they signed the same contract so all the users are parties to a contract with each other. The contract would be legally binding like any other contract and every time you sign a transaction, you are also confirming the contract and the governance process allows the community to update the Terms of Service as necessary and what that means is that what does the dispute does arise because disputes or bugs happen, then there is a process and the jurisdiction already established. You don’t have to worry about people bringing you to court in some foreign jurisdiction under some laws you’ve never heard of (Larimer, 2017).
3. What is usability of the developer?
Developers are believed to be empowered to adapt applications to the users needs instead of adapting users to the needs of or the limitations of the underlying platform, so eliminating fee is one of those things if the platform requires fees and you have to adapt users to pay fees if it requires hashes and account names, you have to adapt the users to that. So software needs to be flexible enough so that you can think in terms of what does the user want to do and then work backwards to making it happen. Everything is completely transparent. All the database are defined by schema so you can write a block Explorer to explore the state of everything in a human readable way and all the messages pass between all the applications also defined by schema, so everyone can read everything and the permission systems would be declarative (Larimer, 2017).
4. Why should anyone use EOS instead of Ethereum?
There are several disadvantages of Ethereum apps. Firstly, Ethereum apps require far too much user overhead for user adoption. The fee model of Ethereum restricts dapps to a very specific business model. Additionally, current throughput of Ethereum limits adoption and general usability of applications.
EOS proposes a feeless model that lowers the bar of entry for non-technical users, which is far more flexible for businesses. All the aforementioned can be observed in STEEM, which has the highest female and non-tech user adoption rate for any blockchain based app and went from concept to production in 6 months. Additionally, Graphene has demonstrated high throughput in both of its high-profile implementations.
The disadvantages over Ethereum are plainly obvious once you've spent time writing in solidity and attempted to interface with your contract. You'll spend most your time working around its inconsistencies and throughput issues just to get an MVP. While it's exciting to conceptualize functionality on the Ethereum network, a great deal of friction arises during the actualization phase, where compromises must be made that either (1) cripple user adoption (during quest for ultimate decentralization) or (2) increase centralization (during quest for better usability) (Why should anyone use EOS instead of Ethereum?, 2017).
5. What is blockchain forks?
A fork is a change to the protocol, or a divergence from the previous version of the blockchain.
Hard Fork
Hard forks are deliberate and occur when there is a major difference of opinion within the community. The group that disagrees with the original protocol ‘forks’ off its own version of the blockchain and the members who believe in this fork upgrade their systems to work on this new blockchain, leaving the previous one. Users who prefer the old version can keep their systems and nodes working on it. The divergence essentially creates two competing blockchains (Ray, 2017).
Soft Fork
Soft forks involve optional upgrades. Like hard forks, they involve two version of a blockchain. However, unlike hard forks, users can keep running the old version after a soft fork, and still be part of the same network as the users who have upgraded to the new version (Ray, 2017).
Bitcoin fork
Bitcoin, the pioneer blockchain cryptocurrency, has had several forks. Recognizing this, the original Bitcoin blockchain (developed by the probably-pseudonymous author Satoshi Nakamoto) is sometimes called Bitcoin Core. Developers can make changes to Bitcoin Core’s blockchain protocol (Ray, 2017).
Codebase Forks
Codebase fork is a software development term. When a developer works on the source code of an application (it could be blockchain-based, or another software product) to develop (or create) a distinct and separate version of the software, the new version is called a codebase fork (Ray, 2017).
It is ultimately the decision of the network’s users whether or not they want to upgrade. Developers cannot force changes onto a network. They can only suggest changes. Users decide whether to adopt them or not. On the blockchain, too, the fate of codebase forks is in the hands of users. Instead of having to hard fork the entire network, the block producers have the power to collectively a single contract, a single application without impacting everyone else. It means you don’t have to hard fork the network to fix a bug in one application. Ideally, applications have their own built-in governance system for deciding when to update the code and this is used as a last resort when an application basically messes up the application so bad that they can’t fix it themselves or perhaps the application revoked the ability to update itself because it’s been running perfectly for two year during which no one expected to find bug so they revoked as two people who can use it as an autonomous smart application (Cox, EOS - Sit Down Q&A With Thomas Cox, VP of Product - Part 1 of 2, 2018).
6. What do you see that community has some part in forming the Governance (the Constitution) involving?
It’s got the BIOS and then that launches an operating system that probably bake in some kind of like super minimalist Constitution that you have to agree to as you log in the very first time before the community ratifies whatever constitutional elements that the community comes up with and there’ll be something you know what is the most basic thing that we can’t launch without and that’ll go into that like proto Bias BIOS type Constitution app. We need to be in dialogue here through the next couple of months to figure out what is need to be in the Constitution that covers the entire blockchain all the users all the time versus things that really should be left to self-selected groups. Because there are different rules and laws, so that is ID layering and nesting is important because if you let the universal Constitution be as open and flexible as possible that leaves open all this creative space for people to find their own way (Cox, EOS - Sit Down Q&A With Thomas Cox, VP of Product - Part 1 of 2, 2018).
REFERENCE
- Cox, T. (2018, 2). EOS - Sit Down Q&A With Thomas Cox, VP of Product - Part 1 of 2. (KEV, & BLUEJAYS, Interviewers) Retrieved from EOS - Sit Down Q&A With Thomas Cox, VP of Product - Part 1 of 2: www.youtube.com/watch?v=okEWdW0WlxM&t=1196s
- Larimer, D. (2017, 6). EOS Consensus Presentation May 2017. Retrieved from www.youtube.com/watch?v=MUZWZj1pu94&t=789s
Ray, S. (2017, 11 29). Medium. Retrieved from Blockchain Forks: https://hackernoon.com/blockchain-forks-b0dca84db0b0
Why should anyone use EOS instead of Ethereum? (2017, 8 26). Retrieved 4 2018, from GitHub: https://github.com/EOSIO/Documentation/issues/13
Updated on April 6, 2018