Can you tell what shape you see?
That’s right, it keeps changing, you’re changing it.
The patterns depend on your individual set of variables.
Just like blockchain morphs along with your actions.
It’s an infrastructure for your ideas.
Don’t play the system. Be the system.
_HOW DOES EOS WORK?
The best way to describe EOS is to compare it with the concept of Ethereum. In Ethereum we have a bare-bone computer (called Ethereum Virtual Machine) and some apps trying to run on top of it.
Those apps have a tough job to do, because apart from some basic stuff, like the ability to send funds and maybe store some data, they need to take care of pretty much everything else.
And because everything is being implemented in the application layer, it’s being done within relatively inefficient scripting environment. Which makes it really hard.
Furthermore, even if some generic solutions eventually emerge as a result of these efforts, they will be expensive to use, as every single line of their code will incur a run-time cost in the form of gas payments.
who are we?
Never stop evolving.
Tokenika is an IT company set up by a group of crypto-space entrepreneurs based in Poland, one of the largest crypto-markets in Europe.
The world is changing, and we make the change possible. We started with Bitcoin, then we became early adopters of BitShares, MaidSafe, Ethereum & Steem. Now we bet on EOS, the first-ever blockchain operating system.
We’ve been watching Dan Larimer’s DPOS-based projects since 2014. It was only natural to align our business activity with EOS from its very inception.
What we do?
We’re creating EOS FACTORY – a smart-contract development framework. It’s going to have a similar functionality to Ethereum’s Truffle Framework. Also, we’re the team behind EOS PROJECTS, a comprehensive directory of apps, sites and tools in the EOS ecosystem, and EOS PROBE, an advanced block explorer for EOS.
We’ve set out to create our own dApp to be deployed on EOS. We’re taking advantage of the opportunities opened up by the European PSD2 legislation by creating a blockchain-based identity verification & authentication system.
Blockchain is a simple concept.
Essentially it’s nothing more than a database without an owner, or an irreversible public record, replicated across multiple computers all over the world. Yes, it’s a simple construct, yet its consequences are profound & multidimensional. Quite similar to the impact the invention of Internet had 20 years ago.
Blockchain is much more than just a platform for creating virtual currencies and raising funds.
Why? The nature of blockchain enables creating very smart incentive schemes which can make people act efficiently and fairly – because they want to, not because they are forced to.
What’s an incentive scheme? Imagine you have a bar of chocolate. You have to share it with someone else. How to make sure you’re both equally satisfied? Let one person divide the chocolate, and the other choose one of the two pieces. This is a cheat-proof system – the only viable strategy is to act fairly.
Many aspects of blockchain extend much further than most of us realize:
Blockchain is the ultimate implementation of freedom of speech. Whatever you put in the blockchain, stays there forever. Nobody has the power to remove it. Ever. In a way, blockchain acts like the first-ever indestructible printing press.
Blockchain introduces some new paradigms. It fuses the concept of user and shareholder into one entity. It also allows multiple competing user interfaces to be connected to the same underlying database. Never in the history of the Internet has something like that been possible – until now.
Blockchain introduces a new type of economy: businesses powered by constant economic growth. Contrary to conventional businesses, blockchain-based ones no longer need to keep their finances in balance. Instead, they can survive by constantly issuing new shares, provided they can grow faster than the rate of share issuance, which in most cases is a viable condition.
What is DPOS?
At the very core of every blockchain there needs to be a consensus mechanism. This allows multiple entities running the blockchain to establish one version of truth.
There are many ways to reach it – Delegated Proof of Stake (DPOS) is one of them.
DPOS uses stakeholder approval voting for resolving consensus issues. Block producers are elected by the token holders, each voting according to their stake, and each able to revoke their vote any time they want.
Why focus on DPOS?
DPOS has its deficiencies, yet we believe it offers the best trade-off one can make in a decentralized environment. It’s the fastest, most efficient, most decentralized, and most flexible consensus model available.
And what’s most crucial, DPOS has been proven to work in real-life situations. It has turned out to be resilient and extremely efficient in various aspects, including processing power and decentralized governance.
Furthermore, by carefully splitting tasks & responsibilities, it’s designed to protect all participants against unwanted regulatory interference.
Which blockchain systems use DPOS?
As of now, DPOS, or its variations, is being used in several projects in the blockchain industry.
It was first introduced in BitShares back in 2014 and Steem implemented it in 2016. Since then, several other projects embraced Dan Larimer’s invention, including Lisk, Cardano & Ark. Needless to say, DPOS is going to be a crucial part of EOS.
It all started with Bitcoin, which is about simple payments. Then came Ethereum, which is about smart-contracts, i.e. automating those simple payments and making them conditional. And now we have EOS, which is about turning those smart-contracts into full-blown decentralized applications.
In other words, EOS is about building real-life businesses on the blockchain. It takes the notion of smart-contracts to the next level, by providing an operating system on which they can run.
In a way, it’s similar to what Android or IOS did for the smartphone.