The Dawn of EOS.IO

in #eos7 years ago

In the EOS.IO Technical White Paper, we proposed the EOS.IO software as the dawn of a new era of blockchain computing. The EOS.IO development team has spent the summer working very hard. Summer is over and the development of the EOS.IO software is ahead of schedule. It can now be used with distributed network configurations. We have a lot of exciting EOS.IO software developments to report so be sure to read to the end!

Proof of Performance

Now that the EOS.IO software can be used in distributed network configurations we can benchmark its performance. Our internal testing shows that the software is currently able to sustain over 10,000 single threaded transactions per second on a multi-node network. This puts it on track to support over 1 million transactions per second on machines with over 100 CPU cores.

Advancements in Design

Developers will be excited to learn that our latest architectural software improvements make it easier than ever to build parallel applications that communicate with each other.

Shared Database Access

We have now enabled one application to read the database state of another application without requiring complex asynchronous communication. We achieve this while preserving the ability to execute in parallel by allowing each transaction to declare the scope (data range) that it needs to read or write access to. Block producers will schedule transactions so that there are no data conflicts.

User Local Storage of Application Data

In addition to supporting read access across accounts, applications can now store data on other accounts. This means a currency contract can store the balance on individual user accounts rather than within its own scope. A transfer from Alice to Bob only requires read/write access to the scope of Alice and Bob and won’t affect the currency contract’s scope. This makes many classes of applications trivially parallel and enables processing of currency transfers in excess of the single threaded throughput limit. As far as we are aware, no other blockchain design supports such a scalable and easy approach to developing parallel software architecture.

Inline Message Passing

It is now easier than ever to send a message to another application and know with certainty that it will be accepted and validated. An application can generate any number of additional messages to append to the end of the current transaction. So long as these generated messages share the same read/write scope and can execute within the allotted time, they are guaranteed to be delivered or the entire transaction will unwind.

This approach is different than the synchronous approach used by other platforms. Synchronous message delivery, which blocks execution of the current thread until it returns, creates the potential for unanticipated reentrancy. Reentrancy has been a source of numerous bugs and exploits because it is difficult for developers to ensure their contract is in a consistent state prior to making a synchronous call. With inline message passing, which delays execution until the end of the current transaction handler, developers can dispatch a message and proceed as if it succeeded. If it fails then the entire transaction will be unwound without any harmful side effects. This means your message handlers are never called in an inconsistent state.

Deferred Message Passing

Sometimes you don’t know if a message is valid or whether there is enough time left on the clock to execute inline with the current transaction. Other times you need to send a message that accesses data outside the scope of the current transaction. In this situation applications can request the block producers schedule a message to be delivered in the next cycle or a future block. If it is valid then your application may be notified; if it is not, then it will never be scheduled and your application can clean up after a timeout.

Unlimited Horizontal Scaling

The latest design advancements in the EOS.IO software gives developers high single-machine performance; businesses can scale to a million transactions per second before requiring a more complex asynchronous architecture.

That said, the EOS.IO software will still support asynchronous message passing among groups of applications that do not need to share state. There are many benefits to async message passing (such as trivial cluster support), but those benefits come with the cost of greater development complexity; the EOS.IO software supports this for businesses that require several millions of transactions per second, but offers a streamlined approach for those that don’t.

Next Generation Network Topology

The EOS.IO software is designed to empower block producers to provide a high performance decentralized infrastructure as a service. Application developers need more than a set of block producers aggregating transactions, they need API nodes, seed nodes, database indexes, storage, and hosting.

High performance blockchains demand high performance network architectures with very different requirements from existing blockchains. At a million transactions per second each node is required to achieve 100’s of megabytes per second per connection. This is trivial for large data centers, but inconceivable for home users.

Additionally high performance blockchains consist of heterogeneous nodes running different subsets of the blockchain and will likely prune the transaction history. This is a significant departure from prior blockchain systems where all nodes are identical and have a full history.

A traditional blockchain consists of a dynamic set of randomly connected nodes in a mesh network. They target home users with limited bandwidth and are designed to traverse home routers (NAT) and dynamically add nodes to the network. Our observation is that this architecture is not well suited for high performance blockchain infrastructure.

The EOS.IO software starts with the assumption that all nodes are intentionally connected to each other. Node operators work together to ensure the network topology is secure, well planned, and efficient. This allows block producers to establish direct (and secure) connections to each other and prevents attackers from scanning the entire network topology looking for nodes to shut down.

The block producers will host public endpoints which anyone may connect to and subscribe to any subset of transaction data they desire. This will minimize the bandwidth requirements for full nodes operated by non-block producers. Nodes that do not want to trust a single block producer may either subscribe to multiple sources or wait for confirmation by ⅔ of the block producers (about 45 seconds).

The benefit of this architecture is that new nodes can connect and synchronize at very high speeds from high bandwidth infrastructure provided by the block producers. Furthermore, this architecture is designed to facilitate efficient unidirectional streaming rather than less efficient bidirectional protocols.

At scale, block producers will be operating a new internet backbone powered by EOS.IO software. Block producers will be like Tier-1 Internet providers with dedicated fiber optic connections across continents. These producers will operate data centers that Tier-2 subscribers can connect to. Tier-2 includes anyone looking to run a full or partial node or a large application. For example, services like block explorers, web wallets, and crypto-currency exchanges would be Tier-2 subscribers to the block producers.

We feel this architecture of intentional cooperative network building will enable block producers to offer a quality of service unique in the cryptocurrency industry.

The Road Ahead

In September of this year, block.one will be releasing EOS.IO Dawn 1.0 which should be stable enough and well documented enough for anyone to launch their own test network upon which they can build and deploy their applications. EOS.IO Dawn 1.0 will be the first pre-release of our EOS.IO SDK (Software Development Kit).

Those who have followed our EOS.IO Roadmap will be happy to know that we are ahead of schedule. Phase 1, The Minimal Viable Testing Environment, which includes a standalone node, native contracts, virtual machine API, RPC interface, command line tools (eosc), and basic developer documentation is complete. We will be making a tagged release as “EOS.IO Dawn 1.0”. This phase was scheduled to be complete in Summer 2017 which ends on September 22.

We have already completed half of Phase 2, the Minimal Viable Test Network. This phase is scheduled for completion in Fall 2017 and includes working networking code, virtual machine sandboxing, resource usage and rate limiting, genesis importing, and inter blockchain communication. At this time we already have functional distributed networks and virtual machine sandboxing. We are confident that we will complete Phase 2 on schedule.

EOS.IO Dawn 2.0, the next major pre-release, will come by the end of the year. EOS.IO Dawn 2.0 will include several critical features that are not present in EOS.IO Dawn 1.0 including:

  • Resource Rate Limiting (preventing spam / abuse)
  • Merkle Tree Generation (for cross chain communication)
  • Upgrade Management and Governance
  • More robust SDK
  • General Infrastructure improvements
  • Example Snapshot from ERC20 tokens

The goal of EOS.IO Dawn 2.0 is to be functional enough that one could launch a live blockchain.

One More Thing….

EOS.IO Storage!

For the first time, developers will be able to create and deploy a decentralized application and web interfaces without having to worry about bandwidth and storage costs, or even hosting any servers themselves; this enables a host of new innovative decentralized business models, such as a decentralized YouTube, Soundcloud, or other storage-intensive projects.

In addition to computational bandwidth, native EOS.IO software-based blockchain token holders will now have access to free cloud storage, hosting, and download bandwidth via IPFS / HTTPS; this access can be used without consuming or transferring tokens.

To achieve this, block producers will host files via IPFS/HTTPS for users and allow other users to download those files. Storage resources are paid for through blockchain emissions and are rate limited to token holders pro-rata to their holdings; like the EOS.IO bandwidth model, storage does not expend EOS.IO software-based blockchain tokens and per-token storage capacity will increase over time with block producer hardware upgrades.

The EOS.IO software storage solution can also support public hosting for those who don’t have any tokens; more details will be released at upcoming blockchain industry events occurring in Shanghai and London.

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.

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I thought it was interesting; Dan made it pretty clear in his last video interview I saw, he expects EOS will eventually power wallstreet.

Very interesting... he may very well be right; they will be interested in Fabric...

You may or may not find this revealing, but here goes..

I find it more than interesting that EOS has just released an SDK called "Dawn." The reason I find this interesting is the Eos was a Titan and the Greek goddess of the Dawn. Eos is also known traditionally as the "Harbinger of Lucifer" and that's why the name of Lucifer in Greek is "Eos-phoros."

If you'd like to understand a bit more about this then you should have a read of my recent post on EOS and all the strange, Luciferic symbolism associated with it.

The link to my post on EOS symbolism is here.

Lucifer invites you to take a byte of the apple hanging on the Merkle tree end enter the space of knowledge...

You mean this Apple?

Apple.jpg

Yes he does.. especially through the new iPhone X facial biometrics features to track everyone into a New World Order for only $999 (666 upside down)

EOS will be unstoppable

Nice :)

lol hope u guys not miss your chance ;)

This made me laugh and explains it so well. Thank you!

Interesting meme to use in regard to EOS's disclaimer I'd say, but I like it for that reason! (since he isn't actually looking at her forward :)

I'm sorry but your avatar kind of looks like a blue butt-hole.

I agree, EOS, she's a real head turner, make your steady very upset...

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What a powerful token added up to the BitShares family!

Thank you so much for sharing all this information about it and wondering how to go about it if I were to buy some, either via fiat money or cryptos, any tips???

All for one and one for all! Namaste :)

If you want to buy EOS using Fiat money, the easiest way to do it would be through https://www.coinbase.com/ as your first step, here's how:

1 - Open a Coinbase account and link it to your debit or credit card (or alternatively, transfer USD, EUR or GBP to it)

2 - Buy BTC or ETH through your Coinbase account

3 - Send the BTC or ETH to an exchange such as https://www.kraken.com/ to trade for EOS, or alternatively, use services such as https://shapeshift.io/ or https://changelly.com/ (if you prefer to stay away from exchanges)

4 - Once you buy your EOS tokens, make sure you send them to your wallet (this mainly applies if you're going to use an exchange) and DO NOT leave them on any exchange. Buy a hardware wallet such as https://trezor.io/, https://www.ledgerwallet.com/ or https://www.keepkey.com/. Trezor is my favourite hardware wallet and it supports https://www.myetherwallet.com/, which means you can store any ERC-20 token on it, including EOS.

5 - After you receive your EOS tokens into your wallet, make sure that you register them by mapping your PUBLIC Ethereum address to the EOS PUBLIC address. Here's an article which explains how this is done for the EXODUS wallet, just replace anything related to EXODUS with the wallet that you will be using: https://goo.gl/36yDtS

Other helpful articles:

How to transfer EOS ERC20 tokens using MyEtherWallet: https://goo.gl/dgCsyJ

How to update the EOS public key mapped/registered to your ETH Address with MyEtherWallet (MEW): https://goo.gl/TSq52F

Wow! Thank you so very much, this is worth a full 100% upvote as it is worth an article in itself! Awesome answer, your teaching, time and dedication are highly appreciated. Namaste :)

Pleasure @eric-boucher

To stay updated on the latest crypto currency news, tips and developments, visit my Cryptoland website at https://cryptoland.co.za/ and please bookmark and share the link with your friends, thanks :)

I had bought EOS from the ICO Page using Metamask. On the ICO Page they have a register button and I did that. DO I need to register the Public Address again via the process mentioned above or do you think that is enough? Please let me know....thanks!

Unfortunately, I don't have any experience with Metamask. But here's how you'd check which public key is mapped to your ETH address with MyEtherWallet (MEW): https://goo.gl/VY9Ypy

If you are waiting on a hardware wallet, can you transfer your EOS to your ETH wallet on JAXX??

I don't think JAXX currently support EOS tokens (https://goo.gl/J88z4R).

Before I received my cold/hardware wallet, I transferred my EOS tokens from the exchange to my EXODUS wallet https://www.exodus.io/ which I downloaded and installed on my computer.

It's still risky, depending on how secure your computer is and whether it has malware or virus on it, especially if it's a Windows machine. Once you receive your hardware wallet, you can then send them to your new wallet's address directly from your EXODUS wallet.

You can find more info about the EXODUS wallet security here https://goo.gl/GW4sw7

I had no idea I even had to register my EOS tokens until I read this. Thanks for posting this info.

Goodmorning Thank you for sharing! Have a nice day

Thanks for the info! Question about No. 4: Why not leave EOS on an exchange?

Because exchanges are a primary target for hackers and get hacked all the time. When you leave a crypto currency on any centralised exchange, you technically don't own it, since you don't hold the private key to the wallet where it's stored, the exchange has it, and that's what hackers are after so they could move that crypto out and into their own wallets. And every now and then, they end up running away with "your" crypto. You're only safe (relatively speaking) if you (and only you) hold the private key to your wallet and no one else. That's why you need a cold/hardware wallet like Trezor, Ledger Wallet or KeepKey - there are other methods of course to hold your private keys but these are very secure and practical - anything else, is playing Russian roulette with your crypto.

This is very interesting. With Steemit, there is a built-in delay for withdrawal, which should serve as a safeguard of sorts.
Peace.

Thanks for tips. However, I got question. Do I need to register tokens which I bought on exchange (Kraken) or exchange will do it on my behalf? Thanks

Here's what you always need to keep in mind when dealing with any crypto currency, including EOS. Whoever holds the private key of the wallet where the coins are stored owns those coins.

When you leave your crypto with an exchange, they basically own them and not you, since they hold the private keys and not you. That's why, you should never leave your crypto except on a cold/hardware wallet that only you have access to its private key.

Remember, tokens are never actually stored in any wallet as such, they live on the blockchain, that's the whole point. What lives in your wallet is the private key which can decrypt that wallet and allow those coins to be sent to another address on the blockchain. So your wallet actually holds a key and not the crypto themselves, as those reside on the blockchain.

So, to answer your question, yes, you need to move those EOS tokens from any exchange to a wallet of your choice which supports ERC-20 tokens. You can use https://www.myetherwallet.com/ (known as MEW) for this, but preferably buy a Trezor cold wallet so that you could unlock your MEW wallet safely with it, and that way, your private key for your MEW wallet would be safely stored on the Trezor device which is extremely difficult (if not impossible) to remotely hack (unlike a computer or a mobile device).

Once you move your EOS tokens to your MEW wallet, you need to map your wallet's Ethereum public address to your EOS public address as I explained in my original post. If after some time you decide to move your EOS tokens to another wallet, you'd then need to repeat the same process, otherwise they would be mapped to a wallet that no longer holds them, and you would therefore lose them when the ICO comes to an end.

Thanks @zedchamaa. Really appreciate your answer. I am moving my tokens to private wallet.

But don't you think that (except the secutity issues that you underline) as long as you can trade your EOS on the exchange at the main rate they are mapped on the public eos adress?

No they're not, you have to map your EOS tokens to your own public EOS address which gets randomly generated, otherwise, you won't be able to use the EOS tokens once the ICO has ended: https://goo.gl/TSq52F

I had no idea I have to register my tokens. Thanks for your very clear and through response. @zedchamaa

You're welcome @carlosmertens - you only need to register them once unless you move them to another wallet, in that case you'd need to register them again (as the new wallet would have a different Ethereum public address to the one you were using).

As long as the Ethereum public address of the wallet you're using to store the EOS tokens is mapped to the EOS public address which you would have generated and for which you only hold the private key, then you should be fine once the ICO has ended.

So I need a Lawyer, an accountant, and a webmaster, in order to buy EOS? In other words I did not understand a word of what you typed. When are "Laymen", ordinary people going to be able to understand any of the crypto currency exchanging. It really does sound like one big brother, secret hand shake club. 5 steps to buy an invisible coin. Someone needs to make it easier.

I agree with you that the crypto currency space is currently still very technical because the blockchain technology is still at its infancy and is therefore mainly driven by developers and highly technical people. More work needs to be done to make it mainstream. This is happening, but it takes time.

To stay updated about the latest crypto currency news, tips and developments, visit my Cryptoland website at https://cryptoland.co.za/ and please bookmark and share the link with your friends, thanks :)

Why is it necessary to register EOS tokens? I'm missing something

I need help I made payment of 2 Ether to the EOS contract address and I cannot get my EOS token and diffificult adding the EOS public key to myetherwallet,what should I do?

Upload an Exodus wallet. You can trade it with other cryptocurrencies right inside that wallet. It's pretty cool.

Thanks a bunch for the suggestion, it is a powerful path to take. Namaste :)

But please, remember to map your EOS key before the ICO ends. And Exodus is not suitable for that part of the process. For now, sure you can trade and hold EOS easily with Exodus.

https://steemit.com/eos/@sandwich/how-to-update-the-eos-public-key-mapped-registered-to-your-ethereum-wallet-with-myetherwallet-mew

Thanks a lot for the heads-up! Namaste :)

Let me add another suggestion for you regarding coinbase.

Once you have funds in your coinbase dollar wallet, you can then transfer them instantly to GDAX.com, which is owne by coinbase. The transfer is free and instant.

Next, purchase bitcoin using a "limit" order on GDAX. This will also have ZERO fee. Then transfer your bitcoin out of GDAX to wherever you need it. Again, no fee other than the btc network transaction fee.

Depending on how much your are buying/transferring. This can save you a substantial amount of money in fees.

Great points added up to the arsenal of goodness that came my way already, thanks a bunch! Namaste :)

No problem, we're all in this together. :)

The one major problem I have with coinbase is the week delay on bank transfers. That's just insane. It's not a big deal if you stagger transfers, but it's still a pain in the ass.

You can buy EOS tokens on Bitfinex or Binance exchange. Or you can send ethereum and receive EOS tokens as part of the crowdsale following instructions on the EOS website.

Thanks a bunch for the straightforward instructions! Namaste :)

use exodus wallet, it is really simple

Thanks a lot for the input, I am usually using the BitShares Wallet... Is there more pros than cons to use the Exodus Wallet compared to the BTS Wallet? Namaste :)

YOu could just use changelly or shapeshift to swap BTC, ETH, LTC or whatever for some (if your in the USA and "forbidden" from buying (without a VPN) from the every 23 hour crowd sales. Just remember to create your EOS account and map it to the ETH address you keep your EOS ERC-20 token in (ERC-20 Tokens are just place holders for the EOS tokens to be swapped out 1 for 1 after platform launch projected for Jun/Jul 2018)

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If EOS succed, its going to be hugeeee.

I have been looking forward to this since I heard about it. I will cover this article on my YouTube channel next livestream. Peace.

a really amazing project, looking forward to this crypto and planning to invest on it in the near future

EOS - here we come.. I am ready!

Greatttt

that's great!i will try to translate it to cn community