Interview EOS New York

in #eos6 years ago (edited)

Interview EOS New York

EOS NY logo

This article is the original interview made with EOS New York for the website http://eos-blockchain.fr/, the french translation is available at http://eos-blockchain.fr/interview-deos-new-york-comment-fonctionne-le-systeme-de-block-producers/

Hi,
First, thank you for accepting this small interview.
You are one of the block producer candidates quite active on social networks, with a good knowledge of the subject, so I'm glad you can answer my questions.
Our objective will be to better understand the role of block producers and to discover your projects.
First, can you introduce you quickly ?

Of course. Thank you for inviting me to participate in this interview. It’s important that we work to cross language and cultural barriers in order to freely share ideas across the EOS community. My name is Kevin Rose, head of community and co-founder of EOS New York, a leading international block producer candidate.

The mission of EOS New York is to position the EOS blockchain as the most attractive decentralized application development platform to developers in the world. We achieve this by increasing the value of the EOS blockchain in a transparent way through advancements in the technology, community empowerment, and increasing adoption through education.

In the first part of this interview, we will try to explain the system of block producers.
If I have to explains that very very simply : There are 21 nodes (the block producers = BPs) elected by the token holders to validates the blocks : it's called DPoS (deleguated proof os stake). The BPs validate the blocks, and they have some power : block an account, update a dapp, and propose a hard fork to the community. Is it correct ? What are the key points to explains the BP in a few words ?

Before we try to understand block producers understand that in any blockchain network there must be incentives for groups or individuals to cryptographically validate transactions on that network.
In Bitcoin, those are miners who use hash power to solve cryptographic equations.
In EOS, those are block producers who are voted in by the community and run the software in the cloud or in data centers.
The bitcoin miner is in a race against all other miners to achieve the greatest amount of hash power. The block producer is in a race against themselves to do the most good for the network and the community.

Block Producers, beyond simply validating transactions, are measured by their ability to increase the value of the network through a variety of methods. This way they are incentivized to reinvest much of what they earn back into the network and community themselves.
So basically, think of a block producer as a mission-based business that operates a data center to support decentralized applications and gives back to the community in a variety of ways. They are transparent, independent, and beholden to the token holder vote.

With regard to the powers of a block producer - they are limited in that the community can vote out a block producer every 126 seconds in favor for someone else. Because there is a high investment needed to become a block producer there is a lot for them to lose. This makes it less likely that they use powers like you’ve described without good reason. Furthermore, those powers are not available to individual block producers. 15/21 BPs must unite to do what you’ve described, like ignore transactions from any particular account i.e. “freeze” it.

A specificity of the governance with EOS is the "constitution". It's not about code, but a constitution as a plain text, voted by the token holders : so what's the value of a system like this, not directly handled and related to the code ? Who has written the first constitution and where can we see it ?

Great question. There is a great debate going on about whether or not “Code is Law”.
The idea is that code and the blockchain is unforgiving and cold. It does not forgive and it does not forget. It demands perfection. But humans are not perfect, they make mistakes. Case in point this recent article was published highlighting a serious bug across many ERC-20 token contracts in Ethereum. Now the issue isn’t that there is a bug, but that it cannot be fixed per Ethereum’s design maxim being “code is law”. A smart contract deployed on Ethereum cannot be changed.
But in EOS we understand that code is a tool to serve people and it must be subject to change as people are not perfect. So EOS is able to isolate smart contracts that require a fix, implement the fix, and continue along without a need to fork the entire network.

So we institute governance in the place of code. We set rules for ourselves and say, “this is how we should act and treat each other”. The proposed constitution is currently being written by blockchain governance expert, Thomas Cox, and can be read here:
https://forums.eosgo.io/categories/eos-governance-economics-philosophy

The value in a system like this is that we can introduce many concepts into blockchain that were not previously possible. For example, basic property rights do not exist in bitcoin.
Let’s say that I was in a parking garage dropping off my car. I hand my keys to the parking attendant so that he can park my car. By possessing my keys does he own my car? Of course not, the idea of stewardship, not ownership, is one of the oldest concepts of property rights known to man. But in bitcoin, if my private key becomes exposed and you take my bitcoins then you own those bitcoins now. So in EOS, besides built-in fail-safes like time-delayed transactions and account permission levels you also have the constitution which states that any dispute can be taken to arbitration. Arbitration is an internationally recognized dispute resolution system that can be legally binding depending on where you’re located.
You can file a case and have your funds returned to you if the arbiter rules in your favor. The list goes on.

What about the block rewards ? A part should be used to develop the ecosystem by financing dapps and projects, is it rights ? Is it garanted by the consitution or is it a decision of the BPs ?

This is a decision made by each BP. Each BP is run as a business. Like a business, operating costs must be covered before new business activities are introduced. At EOS New York, block production and our network infrastructure is our first priority.
After this, if there are still block rewards available to us, we would use them in accordance with our block reward priority framework which we developed.
EOS NResources

This doesn’t need to be governed by the constitution because these types of decisions are up to the token-holder to evaluate. If you don’t like how a block producer is using their block rewards you can vote them out for someone who will use them in a way that’s more in line with what you want.

Is there a way for the token holder to benefit directly of the block rewards ? There is a debate regarding vote-buying/voter kickbacks like you explains on your blog, what's the state of the question ?

Block Producers distributing dividends to token holders in exchange for votes is against the proposed constitution.
Even if it weren’t EOS New York would not participate in this practice because it’s economically damaging.
If a Block Producer were to engage in paying dividends then all block producers would have to as well in order to remain competitive. Very slowly (or maybe even quickly) block producers would “race to zero” as they cut their margins thinner and thinner. Soon all block rewards are going to block production or token holder dividends and nothing would be left to support dApps, community development, or any of the other valuable plans that many block producers have.

What will be the main differences between the block producers, what selection criteria for token holders?

This is a great question but it’s also a very personal one. It depends on who you are. The thing to remember is that no one has the “right model”. There will be many ways to do this and we should welcome this kind of variety. It’s the only way we will figure out what works best. The best thing I can do is tell you how I would grade block producers.

  1. Is the Block Producer transparent?
    a. Do they broadcast their decisions publicly and with thoughtful explanation?
    b. Do they welcome audit of their operations, technology, and finances?
    c. Are they upfront about who the owners of the block producer are? Who are the investors?
    d. Do they make themselves generally available?
  2. Does the Block Producer support the community?
    a. Do they empower and organize the community into conferences and meetups not only where they are but across the world?
    b. Do they engage the community in meaningful dialogue?
  3. Does the Block Producer support the technology?
    a. Are they actively working toward improving the base EOS.IO software?
    b. Are they producing or supporting the production of tools that can be used by the community or by developers specifically?
    c. Have they demonstrated competency in producing blocks? Publishing regular network statistics and testing?
  4. Does the Block Producer support EOS education?
    a. Do they actively engage in evangelizing the EOS blockchain to non-token holders i.e. aim to increase adoption of the network and the token?
  5. Does the Block Producer deliver on their plans?

The list goes on. I can tell you that you can find evidence for all of these items on our steemit blog. https://steemit.com/@eosnewyork

Where can we see all the block producers currently candidates, how to keep informed about that ?

EOS Go, IMEOS, and Koreos are three multilingual EOS media outlets that keep lists and tabs on all block producers. You can follow us directly on our twitter, website, steemit, or join our telegram group.

The token holders can change a block producer at any time, is this correct? How does the voting system work for token holders ?

The voting system is ongoing and forever. Unlike politicians who get to enjoy terms that span years, the life of a block producer is every 126 seconds or one full round of block production. Each of the 21 block producers produce 12 blocks in a row at .5 second intervals. This totals 252 blocks or 126 seconds. Each 126 seconds votes are tallied and the active block producers are chosen for that round. We expect that voting will be able to be done within most wallets at launch.

And do you know why 21 BPs? Have you an idea about how to find the optimal number of Bps in this type of system ?

I can’t recall the exact reasoning but it stems from experimentation from Bitshares and STEEMIT, Dan Larimer’s two other projects. Remember that there are 100 standby nodes behind those 21 as well.

Do you think the average user will get interested and participate in this block producer system, which can seem complex for someone who just wants to use a dapp ?

At least 15% of tokens must vote for a block producer to validate the chain at network launch. Otherwise, EOS does not exist. After that, it’s in the best interest that token holders vote thoughtfully for block producers that will work to grow the ecosystem and not just line their pockets.
One thing to remember is that votes decay over time. Once a full year has passed your vote is worthless. Each month the vote decays in weight by 1/12th or 8.33%.

Not every token-holder will vote and that’s ok. Many will need to use their tokens to access network resources and not think anything of voting. But the good news is that you can do both at the same time, vote and stake for bandwidth/CPU/Storage. RAM is separate.

The token holders who are most interested in the future of the EOS network, and by extension, the value of the tokens they own, will be sure to vote.

What's you personnal opinion about the criticism of the DpoS system, for example by Vitalik Buterin, regarding the voting system and the so-called "tragedy of the common" linked to the voting system.

I enjoyed the back and forth between Vitalik and Dan.
I think that EOS and Ethereum are trying to achieve the same thing but with very different means. Ethereum and Vitalik see decentralization as a goal in and of itself. Rather, it’s a means to a goal. The goal here is a functioning blockchain capable of throughput that can handle enterprise level dApp functions. There are plenty of examples throughout history that disprove the Tragedy of the Commons as unavoidable. Elinor Ostrom makes note of some great examples in her writing.

The voting system will attempt to be gamed. Token-holders must remain vigilante and vote thoughtfully and block producers must remain independent and skeptical of one another.

Lets speak about you.
What are your specificities, why vote for you ?

We are 100% self-owned and self-funded. We will remain transparent in our operations and our finances. We focus on simple, foundational, and scalable solutions that position EOS as the most attractive platform to develop their dApp on. Our first example of simple and scalable is our EOS Resource Planner tool which we believe will be one of the most used tools in the ecosystem. You can read more about it here. https://steemit.com/eos/@eosnewyork/how-many-eos-tokens-do-i-need-for-my-dapp-the-eos-resource-planner

We are committed to upholding and respecting the governance of the EOS blockchain. We’ve published our code of conduct here: https://steemit.com/eos/@eosnewyork/eos-new-york-code-of-conduct

We have employed top DevOps engineers to deploy our block production operation. We are focusing on security first and foremost and are currently evaluating DDOS prevention techniques in preparation for launch.

Our background in marketing and communications uniquely positions us to best evangelize the EOS token across North America and spread it across the world through paid and organic marketing. We have partnered with a production agency to produce video materials that can be translated and used by block producers across the world.

We have done a tremendous job connecting the community by leading the charge to organize block producers into launch groups: https://steemit.com/eos/@eosnewyork/appel-a-tous-les-producteurs-de-bloc-en-marche-vers-la-genese as well as connect the BP community with the EOS subreddit through AMAs. https://steemit.com/eos/@eosnewyork/eos-block-producer-ama-coordination

We are entrepreneurs who have taken an extremely disciplined approach to our communications, business strategy, and tech operations. We will run a well-oiled block producing machine and being to scale out our staff to include multi-lingual community managers and engineers. Our full roadmap can be seen here. The list goes on.

What will be your daily BP work, how are you organized ?

Our daily work is still evolving. We have divided our work into three disciplines: business operations, community engagement, and technology. We are a flat organization with no “CEO”. Each of us understands the overall goal and we meet each Monday to discuss the week ahead. We are currently sourcing candidates to expand our technology discipline.

We are still finalizing the legal structure of the business

What's the biggest challenge as a BP candidate ?

The biggest challenge as a BP candidate is language. We want to hire multi-lingual community managers and establish a solid network of translators so that our work can be understand by the entire network and not just a few.

Do you had activities related to other blockchains before ? Or just projects that interested you a lot ? Why have you choseen to work on EOS ?

We have been students of blockchain for quite sometime but this is our first foray into the blockchain world professionally. It’s like reading one hundred books on how to swim then finally jumping into the deep end.

Related to this question, many new blockchains claim to have the capacity to fix the scalability issues, have you an opions of some of this alternatives (like Neo or other). Do you know a bit about alternatives tech like DAG or hashgraph who claim also to solve scalability issues ?

We attended the product release party of Hashgraph and it seemed very impressive. We were turned off by the fact that they touted a 500,000 transaction per second speed but didn’t emphasize that the caveat there is that they were doing it on one node.
But for others, we are believers in EOS and Dan Larimer. We’ll let him duke it out over which blockchain is the best. Our job is to make sure EOS succeeds.

Do you have other activities related to the blockchain beyond the role of BP? You also organize events like meetups ?

Yes! We organize meetups every month in New York City. We have also held our first meetup in Singapore in partnership with EOS SEA. We are looking to expand our meetups across the world and anyone interested in helping us host can contact us at [email protected].
Our meetup link is here: https://www.meetup.com/EOS-New-York/

On your blog you also explains that your task is also the "evangelisation" and education, why it's important as a block producer ?

Developers and the decentralized applications that they build are businesses whether they like to admit it or not. Business goes where it is most welcome.
By helping welcome it on EOS we are ensuring that there are more developers thus more users, thus more demand for the token. It’s all about increasing the value of the token and the value of the network for everyone involved. Block Producers are perfectly positioned to take on this role. That doesn’t mean we are the only type of group that should, but we should because we can.
You might think that this is the job of venture capital. Well, not everything is attractive to VC. What about the devtools? What about the dApps that will help secure solutions that protect life, liberty, and property, but they aren’t great at making money? If a VC cannot get a return on their investment they won’t invest. EOS New York isn’t looking for something in return when we evangelize the network or ensure that certain dApps are built except for the continued privilege of maintaining our status as Block Producer.

On your blog you also talk about creating dapps (a community dapp, and also dapp parternships), can you explain us more precisely what this consists of and what's the projects that you develop and help ?

I kind of answered this above but our first dApp will be one of the most used tools on the entire network. The EOS Resource Planner will answer the question: “How many tokens do I need for my dApp?”. This is on every developer’s mind. We will answer it. Today we launched eosdocs.io, a documentation hub for all things EOS.IO.
In one month we will announce our partnership with a very promising dApp that will transform the way books are written and collaborated on.
We have acted on their advisory board for a few months now, we’ve worked with them on their pitch decks for VC funding, we’ve made introductions, etc. We look forward to the moment when we can stand by their side as they present their idea to the world. All of this serves to make the network more valuable. Because EOS is only as valuable as what we build on top of it.

Any closing remarks ?

We are not a large corporation, we are a group of professionals who want to make a difference in the world with our skills. We were the first group in the English-speaking world to announce our candidacy and we haven’t slowed down since. We know who we are, what we stand for, and what our goal is.
We are self-funded, self-owned, and self-motivated. We are an international block producer with a New York state of mind. While everyone else is partying on June 2nd we will be on our 9th pot of coffee monitoring vital network statistics and collaborating with block producers around the globe.
Every professional experience each of our core team members has had up to now has only been preparation for the task at hand. Our motto is “Always adding value” and with EOS New York “everything is a block away”. We are EOS New York and we’d be honored to represent you as a block producer come June and beyond. Please reach out to us should you ever have questions.
My username is @eosnewyork on telegram.

Thank you for reading.

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