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A short guide to EON blockchain

EON is a decentralized blockchain-based platform which is the infrastructure of the Exscudo Ecosystem services. The platform is designed to be flexible and rapid, with standard load three times bigger than the Bitcoin’s blockchain. Our platform addresses typical blockchain problems of low transaction per second bandwidth and extensive memory usage by the whole blockchain platform. The EON blockchain was created to overcome these difficulties.

You can find more detailed information about EON blockchain in our guide.

Consensus – Delegated Proof of Stake

EON blockchain works on consensus algorithm dPOS (delegated Proof of Stake). It means that transaction blocks are confirmed by delegate accounts. Nodes run by this kind of accounts are called masternodes. A certain deposit is frozen on the account which take part in transaction confirmation to guarantee block generation security. Such deposit corresponds to a sum of 25,000 eons. Each of the delegates can propose its block version for network validation. The probability of block acceptance by the net depends on the deposit amount.

Commissions

EON blockchain allows users to set commission amount by themselves. The only limitation – it can not be less than the established minimum. However, during the high network load there is a probability that a transaction with a small commission will not be able to enter a block. Then it will be waiting for the load to decrease. By default transaction lifetime is one hour.  If it does not enter the block within this time it is simply deleted. Therefore, when the network load is high the priority is given to transactions with bigger commissions, taking into account the time of their issuance. Later we will provide information on the recommended amount with regard to the network load.

Nodes

Primary technical requirements/recommendations for node installation:

  • Linux-based Docker
  • AMD64 platform (means: 64 bit software)
  • RAM – at least 1024MB (and CPU core), best option- 2048 MB (and 2 CPU cores

Terminology.  EON has three types of nodes: nodes, masternodes and archive nodes. To avoid any confusion we decided to clarify what is behind these terms.

  • Node or peer – a device with an installed software on it, which enables to transfer transactions, blocks and supporting information in accordance with established rules of exchange.
  • Masternode – node interconnected with a block generating account. In fact the necessary deposit (25,000 EON) is on the account, not on the node itself. To participate in block generation a user only needs to deposit a corresponding sum.
  • Archival node – node with a full history of transactions. Hard drive requirements for this type are different – much space is needed. However, it is hardly possible to estimate the RAM requirements right now – they depend on real network load and, besides, this figure will increase with the blockchain growth. Assuming that the block size is 1MB, and 480 blocks are generated a day, we got 3.36 GB a week and so on. But in reality the figures may be totally different. Until the net is operational it is not possible to say for sure.

How nodes and accounts are connected?

Each node is connected to a particular account and is generating blocks on its behalf. A node needs account’s authorization data to participate in generation.

How to count the reward for delegate accounts?

The reward for block generation is equal to the total sum of commissions for all transactions in this block.

Blocks

On average a block includes 4000 transactions, but at the same time the size of the block can not exceed 1MB. The size of transactions size also plays a role: a block may have more than 4000 small transactions and fewer than 4000 big ones. The minimal block size is zero transactions.

Transactions

At the moment there are four types of transactions, and each of these types has its fixed size. The average transaction size is 260 bytes.

Types of transactions:

  1. Account registration
  2. Coin transfer
  3. Adding deposit
  4. Deposit withdrawal

In an hour a maximum of 80,000 transactions can be processed. Each transaction has its “lifetime” which is one hour. After that transactions that did not enter the block are deleted.

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