After three years of experience with BitShares and Steem, it has become abundantly clear that developing decentralized applications requires much more than a fast blockchain. It also requires infrastructure capable of offering a usable experience to millions of concurrent users. In the early days of steemit.com, users were expected to provide their own image hosting. This made the interface difficult to use and prone to broken images.
With the EOS.IO software, we, at block.one, envision a world where block producers provide general purpose infrastructure that allows developers to build and deploy their applications without having to run any servers themselves. This includes applications as complex as steemit, DTube, and decentralized exchanges.
EOS.IO Storage
EOS.IO Storage is a decentralized file system designed to give everyone in the world with Internet access the ability to permanently store and host legal files which are accessible by any browser. Unlike current alternatives, there are no fees for storage or bandwidth on EOS.IO Storage. Built on IPFS, EOS.IO Storage is a service provided by block producers for those who hold a blockchain’s native tokens. EOS.IO block producers will replicate and host token-holders’ files on the IPFS network as well as provide https endpoints allowing anyone with a browser to access the files.
Collectively the producers will reach consensus on how much storage they are willing to provide in exchange for their compensation (block rewards). Block producers who offer more storage for the same reward are likely to earn more votes from token holders.
More information on EOS.IO Storage will be provided in a future update.
EOS.IO Query Services
In addition to hosting files, block producers will be expected to run API nodes that are able to query the blockchain database state on behalf of applications. These APIs will likely be a combination of Graph QL and custom Web Assembly based queries. This makes it trivial for applications to get the information they need without having to run and maintain their own scalable hosting services.
block.one will design and publish open source micro-services that block producers can deploy to map the blockchain database state into more traditional databases for the purpose of scaling read access, maintainability, and additional indexing. This software will facilitate application developers and block producers to build web applications that interact with traditional database APIs.
Resource Limits
Applications consume bandwidth, computation, and storage both on the blockchain and for the interface. Block producers will necessarily have to rate limit access to prevent abuse. This is accomplished for file downloading and API queries the same way bandwidth and CPU time is measured for blockchain updates. Users who hold a small amount of native tokens in a staking contract should be able to have a reasonable level of free access to most applications.
The usage model will support balancing resource usage billing to either the individual users downloading the file or to the individual who uploaded it in the first place. This mirrors the model where websites pay to provide hosting but adds the flexibility of transparently moving the bill and rate limiting to the users who ultimately have control over their consumption. This is critical for bandwidth intensive applications like dtube.com .
Custom Application Infrastructure
block.one recognizes that there are limits to what kind of applications can be built using the general purpose infrastructure provided by block producers. Specifically, applications that require server-side rendering (e.g., steemit) or that require custom database indices maintained by custom micro-services (e.g., market history) may require custom server infrastructure hosted by the application developer or other parties. Developers of these applications can benefit from the same scalable architecture used by block producers to deploy their own customized API and Query Services. This will help developers rapidly bring scalable application infrastructure to market.
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.
So what you're saying is EOS will completely annihilate ETH into a state of non-existence, absorb the entire aggregate crypto market capitalization and then moon to a multi-trillion dollar behemoth that underpins the entire global economy.
I just can't see EOS overtaking ETH.
@linkdead13 "I just can't see EOS overtaking ETH"
Did anyone see bitcoin overtaking USD or even gold?
we should have learned the lesson by now,, people wants better technology and easier life, and i think that what EOS is suggesting.
I've spent the past two months diving into both EOS and ETH, and I was an ETH fanboy who sunk a bunch of BTC into the original ETH ICO. I've concluded that EOS is what ETH wants to be and have completely divested all of my ETH for EOS - don't hold a single ETH.
EOS testnet goes live tomorrow. We've got some incredibly fraudulent Chinese market manipulation happening right now, but I'd keep an eye on EOS over the next month or two. If we start to hear good things from third party developers about the test net the great migration from ETH to EOS will begin...
I don't know why there is this comparison with ETH. Is it the fear talking? I am not a biased person but the product isn't ready, period. The marketing is amazing calling it as "ETH Killer", meaning sure why not but at least create the product first. I am just seeing anti-advertisement from EOS members against ETH trying to demean it. I will also invest in EOS as Dan is backing it up and that's the only reason for my investment.
Logically even centralized database companies like Oracle, MS SQL, My SQL etc exists where people chose the platform on their needs and likes. I have never seen Microsoft shouting, we gonna be Oracle Killer.
It would be good to see EOS supporting great features than ETH so that people can use any decentralized platform suiting their needs. At this stage saying "don't hold a single ETH" shows that you are either biased or have some affiliation with EOS team. Keep in mind EOS is itself ETH ERC20 token, so we need to respect it anyways.
Also there are many other top notch startups on ETH platform, viz; BAT / SingularDTv / Civic / Augur / Golem / Veri / Digix / Aragon and many more joining in until EOS actually releases their own product.
So let's be fair and let's see EOS as a better competitor than just being an ETH hater.
Great comment, thank you! ETH can't scale to anything useful, EOS is being built from the ground up to scale. ETH is POW and EOS is DPOS by way of Graphene. POW is an awful way to secure a block chain - slow, centralized and horribly wasteful.
My biggest issue with ETH all the hubris and chest thumping about how ETH is going to run the world.... and then we watch the network puke over and over at 20-30tps doing something as simple as ICO smart contracts. ETH is a great idea poorly executed.
It is possible that ETH may someday patch itself up into something useful but by then EOS will rocking out and no one will care because EOS will make creating DAPPs like Steem fast and easy.
Did you know Steemit and Bitshares regularly handle more daily transactions/operation than Bitcoin and Ether combined? Bitshares also just produced it's 20 millionith block and is now the longest chain on the planet - because it is fast, scalable and useful. DPOS is crushing POW, POW is just so centralized and entrenched it is going to take a long time for it to figure out it is ded.
I'm not hating on ETH, but I've done my due diligence and have divested. ETH was an amazing project 3 years ago, and VB a visionary. Unfortuneatly they failed to create something that was scalable and fast. EOS does everything ETH does but adds scalability and speed.
It is early days to jump ship as EOS does not even have an MVP in the wild. But Dan has by far the best track record in the business - Bitshares and Steem are arguably the two most used blockchains in the world. As an investor I am primarily investing in people, and to me Dan has a far better record than VB.
My $.02 YMMV. :)
I agree on your "20-30 tps" and that sucks but it seems Ethereum's Serinity release may cover most of these issues as it may shift to POS. Yes scalability is one of the critical consideration while designing a product but Ethereum had no one to look after.
I have worked in front-office of a major investment bank designing and developing low latency applications (using solace object caching, queuing servers, protocol buffers and extensive multi threaded).
It's not only Dan's brain but his whole team needs to be sound enough to carry such a project to a level where everyone has these high hopes.
Dan and VB are great minds of this blockchain space and I admire both equally. I am investor in both after carefully analyzing situations in this space.
I am investing in EOS gradually so that I could average out my risk but with all due respect I don't think anyone else including Dan could give up all his ETH for EOS. At this stage it is riskier than ever.
People are investing in Dan more than EOS as a system. So I simply wonder Dan doesn't get a huge offer for some other project where he just leaves EOS hanging around after his contract/partnership gets done with block one.
Though everyone has their opinion and I personally respect it as there are always differences of opinion which time could prove correct or wrong. Obviously I am planning to buy EOS now as it's a hell of a dip as of now for EOS and may be we may not see such a price later. Though invest wisely if it's your hard earned money. Cheers mate :) !!!
This is not entirely true. It had bitshares to look at. Because bitshares at that time had somewhere around 10x eths capabilities today....before eth was even launched. :/
Though I could definitely give up my free BCash for EOS. You just gave me an idea, thanks. But will hold my ETH and keep analyzing the market.
The comparison here is that Ethereum isn't ready too! EOS is building infrastructure that can support blockchain technologies.
well ready for what kind of state ? Ethereum is already running since more then two years and so much companies are working and building on top of it. EOS has now a big benefit, they can work and iterate much easier on their blockchain vision. They could hit the whole smart-contract pretty hard, if they deliver what they are promising.
Hi @geronimo I look to ethereum just like crude oil and EOS is just like diesel, or octane or any byproduct. so even though EOS is promising but ETH is reliable and other project will join ETH platform.
Happy to follow you
@themystic your point is valid, I like your comment. It serves us well to see ETH and EOS as 2 successful companies..more options for all and even leads to better innovation .
Ethereum is an invention, EOS would be an extension and enhancement as the idea was already innovated and implemented by Vitalik Buterin. The ETH founder deserves some respect for sure.
Good point, I agree
Using the same logic, it could also be said that Ethereum is an extension of Bitshares. In a 2014 interview Vitalik touches on Bitshares live implementation of Delegated Proof of Stake.
HI
DO YOU advise to hold %50 EOS and %50 ETH, in other words is EOS profit opportunity very serious and critical.
be careful what people are telling you regarding portfolio diversification. Do your research about the projects and decide only for yourself what should be in your portfolio. Crypto is wild wild west :) .
I won't advise you on how to invest, but I'll tell you I don't hold ETH any more as I believe it will be obsolete in about 8 months
Wow. I have never been a big fan of Eth, something in my gut says "no" to that coin. If your prediction will come true, that will shake fanatic eth investors!
Are there any active faucets
hahahah!
Can we use GIF's here since we are getting payed for it if some one upvotes. Is not that earning for free via someone else's GIF. WOW another angle to discover
I think it's a reasonable conclusion to make @johnsmith
what's the Purpose of EOS tokens?
I agree with JohnSmith, I too have been reviewing and comparing both and I found my findings to be the exact same, only thing is, if ETH gets "Metropolis" up and running, it can survive but a lot of market share will go to EOS but ETH will still survive
That's exactly what I got from this article. I might also use it as a currency... I was trying to transfer $200 from BTC to my Coinbase to use with my shift card and man no kidding, it took an hour! Love EOS Love Dan the Man ... own 10k EOS ... could buy more but .... just incase it gets cheaper, I'll double up ... still, 100% of my new monthly investment are to EOS, at least until it hits $30... then I just ride it to the top! As you say, a true trillion dollar company over lets say 10 years.
pocketsend:100@daverex, $30 could be in the cards but that will take a strong HODL attitude.
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You'll have your eos AND your pocket tokens too!
EOS will be much more centralized than Ethereum. I think both can exist, perhaps EOS makes more sense for SteemIt-like apps, while Ethereum's bread-and-butter will be financial smart contracts.
People who believe that Ethereum can be used to build a social network are seriously delusional. But EOS might not have censorship-resistance. Note how description mentions "legal files", implying that files can be censored. So can funds, if block producers are big and known, they will have to comply with laws.
So EOS is more like AWS with more crypto, while Ethereum is more like Bitcoin with smart contracts.
Yea, if you think ETH isn't centralized you haven't done your homework. It's as bad as BTC, lipstick on a pig. DPOS has proven, over the past three years, to be the most decentralized block chain tech in the world - and with Graphene is doing orders of magnitude more transactions than POW chains like ETH.
EOS will be the fastest, most decentralized and most scalable block chain tech we've seen to date.
why did this comment get faded/flagged? It seems totally appropriate to me that @killerstorm and @johnsmith have different opinions on these two platforms. what's the deal?
Yes, I had the same question. Why was @johnsmith comment flagged?
seemed pretty benign
How on Earth is that a good thing? So basically EOS is a hosting service with tokens as payment? Does that not go against the whole decentralized notion?
If EOS is truly decentralized - there is/should be no way to censor files -- that should be the aim of this whole endeavor, otherwise, this whole thing is worthless. Much like dtube (Unless they started censoring too).
ETH is controlled by 3 people, 51% of mining pool hash rate. EOS will be much more decentralized than ETH.
Can you provide some sources? Please provide names and mining pools ?
I probably don't realise this but what you've described is the essence of DPOS.
lol
May I post it here?
pocketsend:100@johnsmith, let's hope that EOS will be a roaring success. Not so much financially, but for the wealth of dApps that will flood the markets over time.
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Steemit.com needs a feature to hide all pocket-pi posts automatically.
Along with EOS posts - we'll consider it. Thanks!
Maybe I'm reading this wrong - are you saying you want to hide all EOS posts automatically?
Welcome to the "Let's Read Into Everything @ned Says" thread.
I'm so torn between feeling sorry for you guys and getting popcorn while admitting that I'm really enjoying the show.
Technically, it would be nice if we were able to hide certain dev posts or posts in some languages from the trending page by "default" or at least through user settings.
This would likely help retain many new visitors and newly signed up users too. Whether anyone would still use that particular tag or not would be a matter of enforcement though.
I don`t think anything should be hidden for the user. This is very dangerous actually. But Steemit.com could introduce an individual page for the user which is only showing stuff what interests him.
80% of the bots need to be hidden or done away with, exception being @cheetah bot
Was that a joke?
So @joanaltres was correct that you two were at odds with each other and Dan was trying to intimidate you and others here. Dan downvoted her, but she was right apparently.
https://steemit.com/dan/@elfspice/dan-larimer-so-insecure-he-has-to-self-vote-to-put-his-posts-that-already-are-getting-enough-votes-to-the-top-of-trending#@joanaltres/re-elfspice-dan-larimer-so-insecure-he-has-to-self-vote-to-put-his-posts-that-already-are-getting-enough-votes-to-the-top-of-trending-20170802t061503811z
Are you going to investigate this or do you want me to explain it for you?
Hello @ned I want to share some thing with you please contact wtih me on my Gmail account ( [email protected] )
Right now these messages are the only way to acknowledge users that transaction was successful, and the only way of presenting both accounts balances.
I understand why pocket-pi is how it is. I like the project, I just think that "hidden by default" for those not involved in the transaction works.
this thread reminds me of old days of Steemit....
@johnsmith you artist
It's the idea, not a fact. Even if, there will always be the new kids that will be faster and smarter. We are, after all, in the innovative stage of cryto world (IMHO).
Good morning and a great Aloha to all.
Nope, but it may help propel ETH to the moon by giving a new stronger and more flexible architecture
my dream from july . . . .
You're fucking retarded if you actually believe anything coming from @dan. Are you not seeing all of the issues Steem is having right now? Don't be stupid.
@berniesanders can you direct me to articles that give reasons with citations on steemit's issues related to dan....you know I am a curious cat and try not to form opinions using just one view or someone's opinions. I will do some searches but I don't know enough even to do proper searches.
I know steemit is having problems but it seems more of a social economic problems. Human behavior can't be fixed with math and bots.
no respect. anger vocabulary. threatening everyone who is not the same opinion.
sad for this great idea of a platform
There are only 4 full Steem nodes running right now. What does that tell you?
There are many more than 4 full Steem nodes running....
this is really good to know... but is good enough
Are you going to investigate this or do you want me to explain it for you?
Sorry, I didn't specify public.
Check for yourself: https://bench.steem.vc/
And if that's the case, why did everyone running any sort of service have issues with yours yesterday? Sure would be nice if there was some sort of information put out there when you guys are having issues. Kinda hard to create services with no stability.
Oh my....I need to research this but what does this have to do with Dan?
Berniesanders, if you weren't such a crazy asshole I would spend more time getting to know you when I first joined Steemit. I never thanked you for supporting my art, thank you!
There you go...something for me to chew on but what does this have to do with dan?
There's a reason more people aren't running them, all goes back to poor design by @dan.
sorry to tell you the bad news
this happens when you disagree with bernie.
momentary are 31 nodes online https://status.steemnodes.com/
Is that really accurate? https://status.steemnodes.com/
You should to write large post what is problem? I don't know may be you mad.
Let's have this conversation again in 12 months.
Hope to see EOS change the world soon. Anticipating and excited for now.
Yes sooner
Ok it's still mostly a promise but if this is made reality it will be an incredible product !
Thought this might help someone looking for some "under-the-hood" details: https://github.com/EOSIO/eos/issues/353
Nice chart :-) and thank you for all your work
EOS is the! 🏌🏼🏌🏼
you the man
I wanna see EOS as #1 smart contract plattform by 2020 - I believe this can be possible if the marketing is good and the connections are good.
It could be very powerful to promote like TENX does. They are super transparent and customer orientated. This could be a huge benefit for EOS.
wow nice post
some new like already 400 $ translucent. really amazing @eosio
boom. you just won the new internet.
lol...
one of them :)
@eosio thanks for keeping us informed!!
Should the following link bother you, Daniel, please let me know and I will instantly delete it, but I see no other way to let you know about it. You are the first person of my series of Steemit member drawings: Please give me some feedback - even if it is just a critic! THANKS
https://steemit.com/steemit/@art-universe/daniel-larimer-part-1-of-2-art-universe-is-drawing-the-steemit-community
The only people bothered by being drawn are ones scared of being identified as normal guys. Like Mohammed for example.
:-D what a comment, but true! Well, I don't know if it is not against the netiquette here..... That is the reason I wrote this. I don't wanna bother someone.
Down voting bots ...
Yeah what is this? I've never gotten a downvote until I commented on this post and got 47 of them. ?
That means one thing! – FEAR! → EOS is very, very dangerous competitor for ETH
either you agree with bernie/nextgenadolf or your account will be destroyed.
Now go and lick bernies shoes and send more money to randowhale....
the new STEEMIT TRUTH MINISTERIUM
Those who do not agree with the Führer will be destroyed!
proof:
It's amazing to better be able to understand how EOS will work. I haven't read the whitepaper so I don't know if this was already specify there. Great update.
I have seen other blockchains offer storage that is broken up between thousands of users. It will be interesting to see how EOS will differentiate from other services other than the cost factor. These block producers and file host sites, which will be running an API to report back, will need to have nearly a 100% up time. Do these producers, who receive compensation or block rewards, go through a process for validating their experience and capabilities? This sounds like an awesome part of the block.one business strategy. I definitely will be following along on the progress of the storage solution and waiting for more details.
Hmmm now I remember got a couple dozen EOS a while back. Need to make sure where did I actually put them, though.
I don't think they are talking about mass data storage like Dropbox but rather DAPP specific data so things run quickly and smoothly.
pocketsend:100@peacekeeper, it seems some hard choices had to be made. Good and fast execution requires dedicated hardware and prime connections. Not sure how the EOS token will fit in though.
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Which bot should take the fee?
None!!
I don't know. That is for the bots to decide I think.
Whichever is first. In this case, it was @pocket-a; you can tell because @pocket-pi upvoted him.
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claim
confirm
I'm guessing it's going to be like the Witness system where the back-up Witnesses produce 1/20 of the blocks. If they prove themselves to the community in this low-stakes arena with 100% uptime, they might be voted into the top 19 trusted block producers.
great 🙃
That feels like a decision connected with the IPFS upcoming cryptocurency -
Filecoin. I like it, takes into consideration not only storage, but bandwith and computing too (as expected from EOS)
Filecoin will not be necessary, EOS.IO Storage will be cheaper and easier to use and achieve the same effective result with greater access.
My thoughts exactly (about Filecoin and EOS.IO)
Nevertheless we have only Steem for now :)
For the last month, I was focusing on what is needed for DTube to be as performant now, as it could be if based on EOS.IO when it goes life.
My answer is infrastructure, with the can of worms that comes with it. ( business , legal, etc.)
Decentralized media is hard from a legal standpoint and we should have a solution if we want for DTube (or another service like it) to become mainstream.
Yeah, until @dan gives up because he realized he built another piece of shit that doesn't scale...
Will token holders get paid for exercising votes? You know something similar to deCRED? ... or will they be able to lease out their capacity?... being that coins = ownership of the network? Thanks
Cool that it's using graph-ql!
So what you're stating is EOS will totally demolish ETH into a condition of non-presence, retain the whole total crypto advertise capitalization and after that moon to a multi-trillion dollar behemoth that supports the whole worldwide economy.
Well that's an interesting thing to say...
I just became an investor in EOS a few minutes ago and this is the first article I saw as I opened Steemit! A good sign me thinks.
What the heck is this?
what you mean by torrent! That's mean i can download files, application etc. from this and also get rewards????????
It's all right
Storj, Sia, IPFS, Filecoin, much down the pipeline. You should check out r/CooperativeAgorism
Beautiful abstract. Can't wait for EOS
china is banning bitcoin trading anx the biggest exchange in china confirms it. you would have received the emails regarding it if you have id on anx exchange.
it is start of falling bitcoin
Seems like marketing to me.
I don't really understand the differences, so I am waiting for somebody smarter than me to explain it.
Be well.
So what you're saying about YOS will destroy the other eth, absorbing the full digital market value that has become to many and the total encryption and then the moon any cheating to Bimuth which has multi trillion trillion varieties that support the economy of the whole world
Hmmm
Really good news! I'm still holding on EOS and did so for a long time now, even though I almost cracked at some times. Hopefully it was worth the wait.
Decentralize. Everything.
Is this a proof of storage thing and be rewarded for it? Possibly another breakthrough by Dan?
very good article @eosio
I arise thinking .. please reply to my comments because I thought about the following matter. .. how or what should we coral or we preach so many votenya.? Please explain.?
Great article! EOS.IO Query Services looks promising.
Thank you for such a great invention! I hope you come back in Steemit.
nic detail mate nic work
Amazing. Very interesting. Like a cloud block chain thing.
Excellent post about EOS. I must commend you. I also saw the repo on github.com too
@eosia very informative
Recently commented about this here in reply to @droucil
Couldn't agree more that infrastructure to meet user demand is key, be it 'general purpose' or 'customized' infrastructure' .
I think the dtube.com is reference to dtube.video.
Do not understand how blockchain storage works. But I like how dtube.video works. So, I guess it is something really good. Hope, that it will be affordable as well. 😀
IPFS is like peer-to-peer filesharing. An example is like Torrents. Another is like the system Netflix uses to provide high quality video - peoples browsers that stream Netflix videos in part stream data to other peoples browsers increasing the amount of "access points" to those videos, which increases the speed by offering more bandwidth
Great to see how GraphQL and React are being leveraged in modern day applications.
EOS will be the one that rules them ALL. I bought 100 EOS in the beginning, can't afford more now. But at least I am in. I hope to have more knowledge in a year and contribute to the network.. #EOSRULESTHEMALL
You need to get at least 900 more ... @1k EOS = $1M
When en why
@eosio Thanks for your work sir.... Love it.
me interesting how you got small text.
use the < sub > < /sub > tags.
Sorry to get you all those down votes, by asking a non-related question.
removed, sorry, said I would remove it.
Great 😀😀😀😀
EOS.IO Storage is another innovation DPoS Consensus Mecanism is bringing to the market. Project like DTube, DSound or Viewly currently being build on Steem will greatly benefit from this features. Especially where users will have control over their consumption on this platform due to their bandwith consumption. Does it mean will could some sort of "pay to stream" model?
Price has not moved in correlation with this post, was hoping it would.
I would rather watch the matrix 723 times with my eyelids held open with sharpened bobby pins than read that .
oh well. thank you .i have fl and upvote you. you can fl and upvote me dc ko. thank you
"block.one recognizes that there are limits to what kind of applications can be built using the general purpose infrastructure provided by block producers. Specifically, applications that require server-side rendering (e.g., steemit) or that require custom database indices maintained by custom micro-services (e.g., market history) may require custom server infrastructure hosted by the application developer or other parties. "
Really??? I thought one of the main reasons for decentralized platforms was to save money not having to host your own applications on your own servers!!!
Dan is the man! Can't wait for EOS going main-net - I bet the Eos team has some nice surprises for us!
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