This post is part of our series, “What Should You Vote For?”. We’re trying to give our viewpoint of what we believe EOS token holders should expect from BPs. After all, this is your community. We should all understand how to use our voice to get the security, tools, and usability out of the EOS ecosystem that we want.
For the purposes of this article, we will assume that the network is already
For those unaware, EOS uses a mechanism called Delegated Proof of Stake (
We should now take a moment to understand how asynchronous Byzantine Fault Tolerance (aBFT) helps users of EOS. Reaching an irreversible state is very helpful, as we can all trust and rely on the information that is on the blockchain, and it allows
Ingredients of a Block
What exactly goes into those blocks that are being created? Each block consists of a header and a list of transactions. Transactions don’t mean simply token transactions where User A sends tokens to User B, but are also anything that needs to get executed (such as a vote, or a dApp recording a bit of information). The header includes information that points to a previous block, timestamps,
We should also take a moment to understand what happens when a BP fails to produce a block. A few reasons why this might occur is if the BP’s network connectivity goes down, a hardware failure occurs, their capacity becomes maxed out, or regulation in their jurisdiction prohibits them from continuing. From the white paper: “If a producer misses a block and has not produced any block within the last 24 hours they are removed from consideration until they notify the blockchain of their intention to start producing blocks again. This ensures the network operates smoothly by minimizing the number of blocks missed by not scheduling producers who are proven to be unreliable.” In the event of a missed block, the transactions will be picked up by the next BP in line and the process continues.
One of the features that EOS offers is that BPs are capable of revisiting a previous transaction should the need arise. This is something that should be enacted infrequently, and with great care. The power that BPs hold in this regard should not be taken
User Alice is looking to buy a
BPs are expected to execute an arbitrators orders, and should not be imposing their own morals or opinions in the matter. BPs will also be able to replace faulty code when needed. This would help to counteract a bug that is discovered, or if a smart contract begins to behave in opposition to the
As the blockchain grows, so does the
Distributed File Storage
BPs will also be required to have storage space available for the network. Not just for the archives of blocks already created, but for use by
As custodians of the network, BPs will need to keep security at the forefront of their operations. As it has been seen on other blockchains, there will always be bad actors looking for exploits. As a BP, they would be in possession of block signing keys. If enough of these keys became compromised, someone could claim control of the network should they choose to. They would have the ability to do a lot of damage in a very short amount of time.
Note: We at EOS Canada have received a lot of questions and requests for information on security, so please look through our YouTube channel for videos that will walk through our mindset and strategies that we will implement.
Community Support and Development
While not explicitly stated, outreach and engagement of the community will most likely be part of a BPs strategy. As a community, we want to support those who support us back. Some examples would be through Meetups to educate the public, supporting the creation of
The end goal of this
Full Disclosure: The driving force behind this article is for our team at EOS Canada to provide value to the community as we continue to ramp up our operations and vie for your votes as a Block Producer. We are looking to provide content and code, receive feedback, and make sure that we are aligned with the community. We hope to help by leading through technology, to give EOS token holders the tools and resources that they need. We are striving to become the Block Producer that you, as a community, want to see.