![]() For voting purposes, tokens will need to be staked towards CPU or Bandwidth (and not RAM). All registered tokens will be immediately staked 50% towards network bandwidth and 50% CPU for the duration of the election period.Įach members’ staked tokens will count as individual votes towards each of the Block Producers they have chosen. ![]() Once the election period ends, the ABPs will be replaced with the elected Block Producers.Īll of the EOS ERC-20 tokens will need to be registered first to be able to vote and be active on EOS’ blockchain. The initial election period will end when 15% of the total 1 billion EOS tokens have voted (150 million).ĭuring the initial election period, 21 Appointed Block Producers (ABP) will be chosen at random from the pool of candidates. ![]() Ongoing elections will begin on June 2 when the EOS mainnet goes live. ![]() How do EOS Block Producer elections work? The sharing of Block Producer inflation rewards with unaffiliated voters, AKA “vote buying.”Įach of these criteria have been designed by EOS GO to shed some light on how EOS Block Producers will be operating. Please show the direction and future of your candidacy in a Steem post for the community. Values, community project timeline, finances, transparency, or any other topic the candidate deems important. Listing of Telegram and Test-net node names for community testnet participation. Rough outlines receive a check mark, open review gauges the effort.Ĭommunity benefit project outline, only for projects expected to be public by June 3, 2018 - posted to Steem blockchain. Quality and accuracy of effort will be judged by the EOS community.Įstimated scaling plan for hardware after June 3, 2018 - posted to Steem blockchain. Check mark given for any estimate, modesty encouraged by permanent Steem record. Relevant background qualifications for at least 67% of staff.Įstimate of technical specifications and total expenditure for resources by June 3, 2018 - posted to Steem blockchain.Current employee list and pictures of at least 67% of staff.Type of servers (cloud, bare metal, etc).Official block producer candidate name.EOSGO , an independent and community-based organization that is a self-proclaimed bridge between Block.one and EOS community/token holders, has outlined it’s own eight criteria below which have been commonly accepted by the community, but are not officially requirements to be a Block Producer.Ī public website URL and at least one social media account. Source: EOS GO BP Report 8 - What are some best practices for being an EOS Block Producer?Īnyone can announce candidacy to be a Block Producer. How many EOS Block Producer Candidates are there?Īs of May 2, 2018 - there were 104 EOS Block Producer Candidates. For instance, they may reinvest into infrastructure growth, community support and education, and financial support for development of EOS DApps. Source: EOS 4.0 Announcement EOS is worth $20, then an average block producer could be making $7MM in net revenue (this is based on a lot of assumptions).ĮOS BPs will be incentivized to re-invest their rewards. According to the release of EOS Dawn 4.0 only 1% of the tokens produced through inflation will be paid to block producers out of the 5% of total inflation each year. BPs will earn block rewards in the form of EOS tokens produced by token inflation. This isn’t necessarily the “decentralized dream” of millions of independent nodes, but it moves us at least 2x closer to making it a reality.īlock Producers will create the blocks of the EOS.IO blockchain, which could potentially lead to huge incentives. Instead of being run by a small number of mining pools, EOS.IO will have a constantly changing group of 21 Block Producers. What is an EOS Block Producer?īlock producers (BPs) are one of the key innovations introduced by Block.one, and they will be the decentralized entities governing the EOS.IO blockchain. As with any election, there is a heated competition among those who are vying to become one of the EOS.IO delegates, called Block Producers. Users in DPoS systems vote for a group of delegates, who are the trusted parties responsible for maintaining the network. EOS.IO will feature a Delegated Proof of Stake (DPoS) consensus mechanism, joining the ranks of other publicly available blockchains, such as Steem, BitShares, and Ark. The highly anticipated launch of the EOS.IO blockchain is less than one month away. ![]()
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