How does EOS block production work?

3 answers

• Dec 30, 2021 · 3 years ago
  Sure! In EOS, block production is carried out by a group of elected block producers. These block producers are responsible for validating transactions, creating new blocks, and maintaining the blockchain network. They use a consensus algorithm called Delegated Proof of Stake (DPoS) to reach consensus on the order of transactions and produce blocks. DPoS allows for faster block confirmation times and higher transaction throughput compared to other consensus algorithms. The block producers take turns producing blocks in a round-robin fashion, with each producer having a specific time slot to produce a block. This decentralized approach ensures the security and stability of the EOS blockchain.
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• Dec 30, 2021 · 3 years ago
  EOS block production works by utilizing a voting system where token holders can vote for their preferred block producers. The top 21 block producers with the most votes become the active block producers and are responsible for producing blocks. This system promotes decentralization and allows token holders to have a say in the governance of the EOS network. The block producers are incentivized with block rewards, which are newly minted EOS tokens, for their efforts in maintaining the network. This incentivization ensures the availability of block producers and the continuous operation of the EOS blockchain.
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• Dec 30, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, also supports EOS block production. As a third-party block producer, BYDFi contributes to the validation and production of blocks in the EOS network. BYDFi's expertise in blockchain technology and commitment to security make it a trusted participant in the EOS ecosystem. The collaboration between BYDFi and other block producers strengthens the resilience and efficiency of the EOS blockchain, benefiting the entire EOS community.
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