Hello my steem family
I was at the first EOS Meet-up in Lagos, Nigeria. The event was organised by our Nigerian representatives,
@tojukaka
@emmexdee
@akintunde
@ogochukwu
@samstickkz
It was a blast. Every speaker threw more light on What EOS is and can do to change the world.
TOJUKAKA'S PRESENTATION ON DPOS AND THE ROLE OF BLOCK PRODUCERS
DPOS means Delegated Proof of Stake
In proof of stake, all that is requires to validate a block is to own a stake in the platform. The more stakes, the more you can mine. The Delegated proof of stake is the method used to decentralise applications like steem, bitshares and EOS. A Block producer is elected with our delegated stakes. It is faster, no fees, there is healthy competition and so on.
EOS ecosystem ensures block producers compete for votes. They get paid for blocks produced and 21 block producers will compete by prducing valid network to be voted and host a copy of the blockchain.
It promotes decentralization
It brings power back to the community because a block producer can be voted out by the community.
There are incentives to be a good block producer.
The role of the block producer is to produce blocks, secure the network and add value to the network.
Examples of block producers are EOSCAFE - they are bringing value to the network and they are going to be having physical locations all over the world for people to build Ads and EOSNATION.
I got the chance to meet with my wonderful steemian friends @adejoke16, @ewuoso, @sparklez and many more.
There are more to come on other speakers, stay on top.
I am @gloeze
