EOS MEETUP AT STACH : INTRODUCING EOS

The meetup held at the Steem Acclerator Hub 2 Uyo on the 3rd of february 2018, @ejemai opened the event with @samstickkz giving a breakdown of what EOS.

@ejemai did a projector presentation on EOS and on the fath he has on @dan work, since EOS is his latest work, listening to him, he is a dream, a wide dreamer with no apologies to it, he encouraged everyone to keep there coins and also to invest in cryptocurrency(especially EOS).
i had the opportunity to project the slides for @ejemai and @samstickkz and was part of those who got a bitshare account thanks to @ejemai who shared the link and offered free bitshares to all those who registered newly.

When he was done @samstickkz came to show us the more technical aspect of EOS, he show us how to buy EOS and in extension other cryptocurrencies, i got to learn about technical white paper's and the opportunities available in studying and know how to write one....

He compared other of @dan project with practical(using https://blocktivity.info/) and letting us know the capacity and potentials of every of @dan project's(e.g bitshares), which EOS is one of it.

EXCERPT FROM EOS WHITE PAPER

Abstract: The EOS.IO software introduces a new blockchain architecture designed to enable vertical and horizontal scaling of decentralized applications. This is achieved by creating an operating system-like construct upon which applications can be built. The software provides accounts, authentication, databases, asynchronous communication and the scheduling of applications across hundreds of CPU cores or clusters. The resulting technology is a blockchain architecture that scales to millions of transactions per second, eliminates user fees, and allows for quick and easy deployment of decentralized applications.

Transaction Confirmation
Typical DPOS blockchains have 100% block producer participation. A transaction can be considered confirmed with 99.9% certainty after an average of 1.5 seconds from time of broadcast.

There are some extraordinary cases where a software bug, Internet congestion, or a malicious block producer will create two or more forks. For absolute certainty that a transaction is irreversible, a node may choose to wait for confirmation by 15 out of the 21 block producers. Based on a typical configuration of the EOS.IO software, this will take an average of 45 seconds under normal circumstances. By default all nodes will consider a block confirmed by 15 of 21 producers irreversible and will not switch to a fork that excludes such a block regardless of length.

It is possible for a node to warn users that there is a high probability that they are on a minority fork within 9 seconds of the start of a fork. After 2 consecutive missed blocks there is a 95% probability a node is on a minority fork. With 3 consecutive missed blocks there is a 99% certainty of being on a minority fork. It is possible to generate a robust predictive model that will utilize information about which nodes missed, recent participation rates, and other factors to quickly warn operators that something is wrong.

The response to such a warning depends entirely upon the nature of the business transactions, but the simplest response is to wait for 15/21 confirmations until the warning stops.

CONCLUSION
The EOS.IO software is designed from experience with proven concepts and best practices, and represents fundamental advancements in blockchain technology. The software is part of a holistic blueprint for a globally scalable blockchain society in which decentralised applications can be easily deployed and governed."