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Editor today to show you how to achieve EOS intelligent contract and introduction to DApp development, the knowledge points in the article are introduced in great detail. Friends who feel helpful can browse the content of the article together with the editor, hoping to help more friends who want to solve this problem to find the answer to the problem. Let's follow the editor to learn more about "how to achieve EOS intelligent contracts and introduction to DApp development".

EOS is a block chain underlying common chain system developed by Block.One, which is specially designed to support commercial decentralized applications (Decentralized Application), and its code is open source.

Bitcoin is called blockchain 1.0 because it opened up the world of digital cryptocurrencies and took a decisive step from 0 to 1.

Etay Fong is called blockchain 2.0 because it provides Turing complete virtual machines that can run smart contracts, bringing unlimited possibilities.

EOS is called blockchain 3.0. why? Two words: performance.

The positioning of EOS is the slogan of its home page:

English: The most powerful infrastructure for decentralized applications.

English: the most powerful decentralized application infrastructure.

EOS expects to be an enhanced version of Ethernet Fong, a high-throughput intelligent contract platform.

Although Etay Fong has a full range of functions, subject to its design choice, the transaction throughput of 15 seconds is far from being large-scale practical, which is only about 30~40TPS (transactions per second). EOS, on the other hand, has chosen a different technical route, with the goal of achieving a sizeable million TPS-a goal that is tempting given the actual processing speed of the Visa, which is 1700TPS.

Consensus Mechanism of EOS

The reason why the throughput of Bitcoin and Ethernet is so low is due to the application scenario they envision and the consensus mechanism chosen for that scenario-both of which assume that the environment in which the system is running is completely unreliable, so both use consensus mechanisms such as workload proof (Proof of Work).

Consensus, as the name implies, is that people reach a unified understanding of something-- for the blockchain, something refers to the confirmation of a transaction-- any node that wants to submit a transaction needs approval.

The PoW mechanism currently adopted by Bitcoin and ethernet is the design of the legendary Satoshi Nakamoto. Under this mechanism, miners need to keep digging to find a compliant hash value in order to get bookkeeping rights and digital coin rewards, and confirm and package the transaction data through the consensus of hash value. There is no entry threshold for PoW, and any node has an equal right to participate in bookkeeping-of course, the probability of winning is related to arithmetic:

EOS assumes that the environment is not completely unreliable, so it uses a Delegated Proof of Stake mechanism similar to the familiar Congress system-it does not require every node to participate in reaching a consensus, only those selected nodes to reach a consensus. Because these nodes can be trusted, EOS's DPoS mechanism no longer needs to solve the hash problem to obtain accounting rights. It allows holders of EOS coins to select 21 representative super nodes-- Block Producer nodes-- through a continuous voting system. The super nodes take turns to confirm and account for transaction data, and give them certain rewards.

Obviously, getting 21 nodes to reach a consensus is certainly much more efficient than reaching a consensus among 10,000 nodes.

Resource Utilization Mechanism of EOS

We know that the purpose of the transaction fee mechanism in Bitcoin and Ethernet Square is to prevent a large number of junk transactions from clogging the system.

On the other hand, EOS completely cancels the transaction fee through an expansion-based reward mechanism (1% additional issuance per year and no more than 5% of the total), which not only reduces the cost of using the system, but also brings an inevitable problem:

How to avoid the abuse of system resources?

EOS designed a new resource usage mechanism: allocating system resources according to the number of EOS passes in the account.

CPU and bandwidth: mortgage / redemption

In EOS's model, CPU and bandwidth are mortgaged: CPU and bandwidth are allocated according to the proportion of mortgaged EOS permits. For example, if you hold a 1% EOS pass for the entire network, you can mortgage these passes to get 1% of the CPU and bandwidth for the entire network. In this way, you can isolate all DAPP, prevent resource competition and malicious DDOS supply, no matter how congested other DAPP is, your own bandwidth will not be affected.

When CPU and bandwidth are no longer needed, the mortgaged EOS pass can be redeemed, and there is a three-day redemption period at the time of redemption.

Memory: buy / sell

Unlike CPU and bandwidth, to store data in a blockchain, you need to buy RAM with an EOS pass based on the current RAM market price to get a certain number of storage bytes. When you no longer need memory, you can also sell it at the current RAM market price to get an EOS pass:

The price of RAM is based on the Bancor algorithm, that is to say, it is adjusted by market supply and demand: if RAM is in short supply, you need more EOS permits when you buy RAM, and you can get more EOS permits by selling RAM.

Memory is a consuming resource, can not be redeemed, can only be bought and sold. Take the issue of coins on EOS as an example. At present, 20 MB of memory is needed to issue coins. An EOS can buy 20KB, and it takes 1000 EOS to issue a coin at current storage prices. This is the source of rigid demand for EOS memory consumption.

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