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Introduction & History of EOS
What’s the story behind the Block Producers?
What’s the story behind the Block Producers?

Intro for new EOS users

Randall Roland avatar
Written by Randall Roland
Updated over a week ago

On EOS, there is no mining. Instead, we have stakers and validators (block producers or short: BPs). Stakers play the role of miners on EOS. The BPs are the mining pools. Mining pool formation is a natural result of incentives on blockchain systems. They form because of Pareto-distributed wealth differences. EOS factors them in inherently achieving greater efficiency. Adding voting incentives enables transparency and accountability from the BP candidates.

The BPs hold the keys to making changes to the EOS blockchain’s code and producing blocks. They make decisions based on ⅔ + 1 majority. They achieve incredible coordination and uptime. Since producing the genesis block, the BPs have invested and developed a more sophisticated infrastructure to support tens of thousands of transactions per second, half-second block times (near-instant transactions), and 24/7 uptime.

Author: Jesse Jaffe

Editor: Randall Roland

Translator: -

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