Differences between IOST and EOS

7 Feb 2023

1. The consensus mechanism of IOST and EOS

EOS uses the DPOS consensus mechanism, which is evolved from the POS consensus mechanism. The DPOS consensus mechanism has been successfully used in other projects before BM. Although the DPOS consensus mechanism has relatively fewer block producers, it is Scalability has been greatly improved. The current peak of EOS TPS can reach 3996, which is currently the highest among all public chains.

IOST adopts the POB consensus mechanism, that is, Proof of Believability, which is a consensus mechanism created by IOST, but in essence it is still a POS consensus mechanism.

At the same time, through the high-frequency rotation of blocks, the liquidity of IOST's block-producing nodes will be very high, and the network scale will be greatly reduced to allow a consensus to be reached faster. IOST’s original PoB consensus mechanism not only greatly enhances the expansion performance of the IOST blockchain, but also has a much higher degree of decentralization than EOS’s DPoS mechanism based on a small number of super nodes and candidate nodes, achieving better community autonomy, and at the same time It also guarantees higher security.

2. Node reward mechanism of IOST and EOS

Both IOST and EOS are essentially POS consensus mechanisms. Nodes are voted by token holders. The more holders, the greater the weight of the vote. This is similar to the setting of a company limited by shares. Whoever has more shares has a greater right to speak.

In the IOST and EOS node reward settings, there are block rewards, that is, the more blocks are produced, the more rewards the node will get. Both IOST and EOS nodes will get a part of the reward because of being voted. In IOST It is called an election reward. The higher a node gets votes, the more election rewards the node can obtain. Similarly, the higher the number of votes in the EOS node, the higher the voting reward it receives.

In EOS nodes, the number of super nodes is fixed, namely 21, and there is no limit to the number of block producers in the IOST public chain network.

In addition to block rewards and voting rewards, EOS and IOST have different settings in terms of ecological contribution rewards. In EOS, a node cannot obtain corresponding rewards by continuously contributing to the EOS ecology, that is, there is no corresponding reward set. Ecological contribution rewards. However, in the IOST network, there is a clear set of ecological contribution rewards.

In the IOST ecosystem, a node can obtain corresponding rewards by continuously contributing to the ecosystem, such as developing an IOST wallet, opening an IOST block browser, or even writing articles to promote the ecology, etc., all of which can be obtained from the IOST official website. To some corresponding ecological contribution rewards, even if a node is not a block producer, it can still be rewarded by contributing to the ecology.

IOST's ecological contribution rewards can encourage IOST nodes in the community to continuously contribute to the IOST ecology, which is conducive to the construction of the IOST ecology.

3. Voting reward settings for IOST and EOS

Regardless of whether it is IOST or EOS, voters who vote for nodes are actually contributing to the ecology. The more voters and the wider the range, it is helpful to the stability and security of the system. At the same time, after voting for the node, the voter is actually locked in the liquidity of the token, and loses the liquidity of the token for at least 3 days. So, should voters be rewarded for voting? EOS and IOST are different in voting reward design.

In the EOS public chain, the official does not stipulate that voters have voting rewards, and will not use a part of the additional issuance of EOS for voting rewards for voters. Even in the early days, if an EOS node promises to give voters Rebates will be regarded as election bribery, but with the development of the EOS ecosystem, in fact, more and more nodes have started voting rebates either explicitly or implicitly. Even Block one defaults to voting rebates, and even feels that voters have lost The liquidity of tokens comes at a price, and voting rewards are compensation. Of course, EOS voting rebates are the behavior of nodes. Nodes can be set according to their own income.

However, there is no voting bribery in the design of IOST. It is clearly stipulated that voters have rebates, and voting rebates are officially supported. In mainstream IOST wallets, as long as voting can be rewarded, the system is set up. Yes, voters can get 50% of the rewards for the election of the nodes they voted and the ecological contribution rewards.

IOST's voting rebates have also prompted more and more IOST token holders to participate in the voting of IOST nodes and participate in the on-chain governance of IOST.

Write & Read to Earn with BULB

Learn More

Enjoy this blog? Subscribe to CapitalThink


No comments yet.
Most relevant comments are displayed, so some may have been filtered out.