EOS Developers Submit Proposal to Change Network Allocation Model

Block.one, the company behind the development of the EOSIO blockchain, has published an official proposal for the changethe current system for allocating CPU resources on the EOS network, according to which users will rent them for a 30-day period.

</p>

To create a proposal based onlies the idea expressed earlier by Block.one technical director Dan Larimer, the developers were pushed by the November incident with a sharp slowdown in the EOS network and the cost of transaction processing.

Then, against the background of EIDOS airdrop, during whichusers used CPU resources to get free coins, there were problems with access to the REX CPU resources exchange. At the same time, the cost of resources soared by more than 100,000%.

The REX exchange allows you to stake EOS coins to provide resources owed to users to other users in exchange for a reward.

According to the project’s blog, the current systemthe distribution of resources is arranged in such a way that most of them, despite high demand, remain unused. Because of this, the EOS network cannot fully realize its potential in terms of performance.

So, during the mentioned incident in November REXprocessed about 30% of the resources, and when they were exhausted, a very small part of the remaining 70% was used. This, developers write, is confirmed by the fact that the blockchain bandwidth was less than half used.

“According to a new proposal, the user paysrent through a smart contract, receiving for 30 days a portion of CPU / NET of the total number of resources. After 30 days, the lease should be extended, and the price will be automatically changed using the market mechanism based on supply and demand for resources ”,- said in a statement.

Representatives of Block.one says that users will still be able to stake EOS coins in the new system, but instead of resources, compensation will be in the form of commissions from auctions for the sale of EOS domain names, RAM and rental income CPU / NET.

“Purpose of the proposal for the transition from the modelgranting rights to resources to the resource lease model - eliminate the influence of speculative markets on pricing. An aggregate resource pricing rental market will be more predictable and reliable for the community. ”— the developers add.

As Larimer said earlier, the proposalprovides that as the available resources decrease, the rental price should increase. The transition itself should be gradual with the progressive transfer of resources from the old REX implementation to the new one.

Recall that earlier in December, the cryptocurrency unit of the rating agency Weiss Ratings lowered the EOS rating from level B to C- due to the excessive centralization of the project.