The EOS.IO software introduces a new blockchain architecture designed to enable vertical and horizontal scaling of decentralized applications. This is achieved by creating an operating system-like construct upon which applications can be built. The software provides accounts, authentication, databases, asynchronous communication and the scheduling of applications across hundreds of CPU cores or clusters. The resulting technology is a blockchain architecture that scales to millions of transactions per second, eliminates user fees, and allows for quick and easy deployment of decentralized applications.
Requirements for Blockchain Applications:
Support Millions of Users (…) Free Usage (…) Easy Upgrades and Bug Recovery (…) Low Latency (…) Sequential Performance (…) [and] Parallel Performance
Consensus Algorithm (DPOS) :
EOS.IO software utilizes the only decentralized consensus algorithm capable of meeting the performance requirements of applications on the blockchain, Delegated Proof of Stake (DPOS). Under this algorithm, those who hold tokens on a blockchain adopting the EOS.IO software may select block producers through a continuous approval voting system and anyone may choose to participate in block production and will be given an opportunity to produce blocks proportional to the total votes they have received relative to all other producers. (…)
Transaction Confirmation
Typical DPOS blockchains have 100% block producer participation. A transaction can be considered confirmed with 99.9% certainty after an average of 1.5 seconds from time of broadcast. (…)
Transaction as Proof of Stake (TaPoS)
The EOS.IO software requires every transaction to include the hash of a recent block header. This hash serves two purposes:
- prevents a replay of a transaction on forks that do not include the referenced block; and
- signals the network that a particular user and their stake are on a specific fork.
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