$5.45 -0.11%
EOS · 9w

What is EOS: Beginners Guide Part 2

Welcome back to the second part of our EOS IO Dawn 4.0 guide.

We have already discussed the following:





In the second part we are going to talk about:




Last Irreversible Block Algorithm


#4 Block Producer Rewards

We have already told you how the DPOS consensus mechanism in EOS works. For a quick summary, EOS network has 21 block producers and those 21 take care of consensus and network health.  Traditional consensus mechanisms like proof of work(POW) and proof of stake(POS) have a more immediate reward system. Having said that, EOS’s DPOS doesn’t really have anything like that. Instead, it has an inbuilt inflation system which increases the overall supply by 5% every year.

These surplus tokens are then distributed accordingly (more on that in a bit).

According to Block. One, this inflation system is the way to go forward for the long-term development of the EOS project.

EOS Reward Distribution

Image Credit: Medium


Hmm..what is going on here?

The inflation rate of EOS per year is 5% which is divided into two parts:


1% which goes to the producers.


4% which goes for worker proposal systems (more on this in a bit.)


The main logic behind the distribution algorithm is to make sure:


The producers are paid sufficiently for their service.


No one is paid in an insufficient way to not cover their costs.


Everyone who qualifies must get a minimum per day payment so that “wealthy individuals who have no intention of producing blocks don’t attempt to earn interest on their producer candidate by voting on themselves.”


Like we have mentioned, there are 21 active block producers, however, there can be any number of standby producers as well, who may have received a certain number of votes in the election, however, they weren’t able to qualify in the top 21....

Continue on blockgeeks.com
Recent news
EOS -0.11% · theccpress.com · 3h

EOS Blockchain Wins Important Deal With Spacebit

Spacebit, a space block chain program is only launched by astronauts, consultants, rocket scientists and contractors, has just negotiated an agreement with the blockchain EOS. The goal of the project ...
EOS -0.11% · theccpress.com · 3h

DappRadder Decides on Excluding Bots From Statistics

DappRadar announced that it would take action to remove bots from its statistics. The website analyzes the traffic and transaction volumes of more than 1,000 distributed applications on EOS and Ethere...
EOS -0.11% · trybe.one · 7h

EOS CPU usage : Important considerations

Let’s face it : after the RAM crisis, EOS is facing a CPU crisis. I am covering this significant topic in depth, and trying to find a solution. Matter You may be aware of it already, but the bulk of t...
EOS -0.11% · twitter.com · 9h

Opportunity to join a great investment in 2018

A Quick ReminderIf you want to join the great EOSISH airdrop it's not too late, you need to withdraw your tokens to your wallet now - as it may take 4 hours-, the snapshot will be after 5 hours from n...
EOS -0.11% · trybe.one · 10h

Chaince Strategic Development Roadmap

Dear Chaince users: The strategic development roadmap is the planning of the future strategy based on the current actual development of the Chaince platform. We will announce the strategic plan for Ch...
EOS -0.11% · trybe.one · 11h

Just the Facts (EOS Proxy by eosratings.com)

I thought it would be awesome to create a proxy that wasn't influenced by anyone. Just use the public data that is available to the entire EOS community. Things like BP validation provided by AlohaEOS...
EOS -0.11% · trybe.one · 13h

Help us decide our WORBLI Content Contest Winners!

        Well Tryber’s, another amazing Trybe competition has quickly come to and end.  The Worbli Trybe content competition was a resounding success proving that not only are people excited about Worb...
EOS -0.11% · blockmanity.com · 13h

EOS gambling dApp EOSBets hacked again, $338k Stolen

Hackers are at it again. After last month’s hack on EOS for $200k, it’s reported that an additional $338k in EOS tokens has been stolen from EOS gambling dApp EOSBet. EOSBet despite advertising itsel...
EOS -0.11% · trybe.one · 13h

The Implications of A.I.

Most of you will already know that AI (Artificial Intelligence) is now the next technological advance that the human race is heading to, but I often wonder if it will also be the last invention human ...