Documentation

t that wants to impress people with good-sounding concepts like DAG, ternary number system, etc... but does not seem to be good engineering to me. Or at least its whitepaper is extremely poorly written and missing critical information IMHO.

fractal-like from that paragraph. A lot of them are unsolved problems in computer science and engineering, as in "armies of hackers and Ph.D candidates have not done these things." Let's just start with "blockchain architecture that scales to millions of transactions per second," or that one word horror "database." The streets are lined with the festering corpses of those who thought they would just go and build a (non-trivial) database. Grab some popcorn. A lot of dumb money is about to be vaporized.

usage. A blockchain maintains a log of all messages and this log is ultimately stored and downloaded by all full nodes. With the log of messages it is possible to reconstruct the state of all applications. The computational debt is calculations that must be performed to regenerate state from the message log. If the computational debt grows too large then it becomes necessary to take snapshots of the blockchain's state and discard the blockchain's history. If computational debt grows too quickly then it may take 6 months to replay 1 year worth of transactions. It is critical, therefore, that the computational debt be carefully managed. Blockchain state storage is information that is accessible from application logic. It includes information such as order books and account balances. If the state is never read by the application then it should not be stored. For example, blog post content and comments are not read by application logic so they should not be stored in the blockchain's state. Meanwhile the existence of a post/comment, the number of votes, and other properties do get stored as part of the blockchain's state. Block producers publish their available capacity for bandwidth, computation, and state. The EOS.IO software allows each account to consume a percentage of the available capacity proportional to the amount of tokens held in a 3-day staking contract. For example, if a blockchain based on the EOS.IO software is launched and if an account holds 1% of the total tokens distributable pursuant to that blockchain, then that account has the potential to utilize 1% of the state storage capacity. Adopting the EOS.IO software on a launched blockchain means bandwidth and computational capacity are allocated on a fractional reserve basis because they are transient (unused capacity cannot be saved for future use). The algorithm used by EOS.IO software is similar to the algorithm used by Steem to rate-limit bandwidth usage.