Frequently Asked Questions
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About EOS & Block Producers
EOS.IO is a blockchain architecture designed to run smart contracts while providing vertical and horizontal scaling of decentralized applications. It seeks a balance between security, performance, and usability with an ability to handle general purpose applications while also addressing the need for governance.
Some of EOS.IO main features include:
• Communication with other blockchains
• No user fees
• Aims to scale to millions of transactions per second
• Possibility of fixing bugs without hardforks
• Access Permissions
• Named accounts
• Access recovery
• Security Delayed Transactions
• Allow for quick and easy deployment of decentralized applications
There is no mining in the EOS ecosystem, due to its consensus model. Thus, the mission to produce new blocks is assigned to 21 block producers elected by the network.
Block producers produce 21 blocks (one each per round) in a 21 block/round setup. Within each round, the order of block producers is randomized.
In addition to producing new blocks and providing the infrastructure to process all the transactions per second, block producers should:
• Ensure P2P network operation and stability
• Contribute to the community in an active way
• Serve as an access point for end users and developers
• Develop new tools to help the network
• Be transparent in your actions and resolve conflicts with seriousness
The software will award new EOS tokens to a block producer every time a block is produced. The reward is the median of the desired pay published by all block producers.
The block producer reward is the only means of network inflation, and should the community wish it, it can be capped so that the total increase in token supply does not exceed 5% per year.
About the Election
Block producers are elected by the community through continuous voting by EOS token holders.
After the official EOS MainNet launch, on 02 June 2018, but more details on this will be released soon.
About EOS Rio
EOS Rio is a block producer candidate, situated in Rio de Janeiro, Brazil. It is also an effort to foment and grow the EOS community in South America.
EOS Rio is an initiative that was born inside Rede Entropia. Rede Entropia is an Artificial Intelligence & Blockchain Lab, Venture Builder and Startup Accelerator in Rio de Janeiro, Brazil. Its purpose is to collaborate with people and businesses to create innovative solutions that positively impact society.
EOS Rio team is formed by crypto-enthusiasts and EOS supporters. The team is well diversified, ranging from developers to education professionals.