On the second part of our Multisig and Permission series, we review how to update the authority structure of your account on an EOSIO blockchain, which is still somewhat of a mystery to many users. By using the correct tools and having a proper understanding of what the blockchain requires, it becomes rather simple and you’ll be able to harness the incredible power of this unique feature.
Two members from EOS Canada, Matt and Josh, were recently invited by Ashe Oro and Zane Whitener of eos.radio to take part in a panel discussion on the eosio.forum smart contract that Matt wrote, which was recently added to a system account. We were joined by Rohan of EOS Authority and Daniel from EOS Nation.
The EOS mainnet now has a live referendum system! The eosio.forum contract was recently approved and placed into a system account on the EOS mainnet by the Block Producers. With it comes the ability for token holders to clearly voice their opinion on many different matters that they feel are important to them. This is a huge step forward in on-chain governance in the blockchain space.
One of the differentiators that sets EOS apart from other blockchains is its resource staking mechanism -- users get access to chain-wide CPU and bandwidth resources by staking EOS tokens. However, with the incredible user and dapp adoption that we’ve seen, resource staking has also become a bottleneck at times. Block Producers and Block.one have both been working to resolve these issues.
Keen observers will have noticed that on the EOS blockchain there are system accounts that control various functions. These are all denominated by the prefix eosio.*. At EOS Canada, we felt it would be useful to provide an overview of which system accounts exist, and what they each control.
EOS is very exciting, but if you don’t know where to begin to understand what it does, you’re not alone. EOS Canada has become known for our position of Leading Through Technology. As a team of deep technologists, we have tried our best to disseminate our understanding of EOS in a way that is accessible for all potential users through many videos and articles.
A unique feature of EOS compared to other blockchains is that it allows a user to create a unique, human-readable account name. This helps to alleviate issues that arise through the use of public keys or public key hashes as the main identifier of an account, i.e. the long strings of characters seen on the Bitcoin and Ethereum networks.