What is the likely platform on which EOS will be Mined?

[songminer]

Is there any definite plan for what Algorithm will be used to mine EOS? Is it still undetermined?

Comments

[sbrys]

There will be no EOS mining :)

[songminer]

If there is no mining, where does the power to run eos come from? Where will the apps run? I see great potential for a block chain operating system, but what is the incentive to provide computing power?

Please excuse my ignorance.

[sbrys]

There will be something similar like the witnesses here on Steemit. They are called producers

[cryptokens]

EOS uses DPOS, which has 21 (101 total) block producers. They will produce blocks and make money similar to miners in POW. However token holders have discretion and can vote out bad actors, replacing them with one of the 80 "on-deck" producers, who only occasionally produce blocks until chosen as top 21. Additionally, token holders will be able to rent out their coins as they represent compute power, storage etc.

[hansenlin]

.

[songminer]

So, then, how will EOS derive its computing power? Bitcoin miners provide the horse power for bitcoin transactions. Where will this horsepower come from with regards to eos?

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