FAQ

Question I

As one of the most popular chains globally throughout the past year, EOS is not as good as expected with few useable Dapps on its mainnet. Comparatively, what aspects of everiToken outperform EOS?

Answer:

Actually, everiToken refers to the consensus and network layer of EOS but is different with EOS in most other aspects. So, everiToken is not an "EOS-based public chain.” Let us explain:

  • Contract Layer: We don't adopt smart contracts, but the entire EOS system including its consensus mechanism is developed with smart contracts. EveriToken, as a public chain, ingeniously creates safe contracts with the strategy of conceiving, implementation and testing safe contracts completely by ourselves.

  • Data Layer: everiToken is the first to use the RocksDB database as the underlying database for our public chain. This enables the TPS of the measured data layer to reach tens of millions. With this improvement, server memory requirements are reduced by 90% with great performance.

  • Economic Model: The everiToken economic model is completely different than that of EOS with our philosophy being efficiency, safety and transparency. Our transaction fee is much cheaper than that of most common chains, being about 1 / 1000 of the fee required by them. everiToken doesn’t need to mortgage tokens or buy memory storage. For more privacy, our concept leaves an "account" alone with the result of saving high costs normally needed to create an account.

  • Transaction Model: everiToken ingeniously created the“Token-Based” Transaction Model. The bookkeeping model is naturally sharding-supported to scale horizontally with great convenience to improve TPS by adding machines. This is not possible with EOS's technical architecture for its “Account-Based” model.

  • TPS: At present, the main network of everiToken is close to 10,000 TPS, and the test network has reached more than 12000 TPS, while the current EOS TPS is only about 3000.

Question II

Is everiToken decentralized?

Answer:

The everiToken public chain adopts the “DPOS+PBFT” consensus algorithm. Some people misunderstand the decentralization by thinking that it refers to thousands of block generated nodes. But in fact, the main purpose of decentralization is to ensure tamper-proofing and resistance to loss, not decentralization itself, which can be completely achieved by using the improved version of the “DPOS+PBFT” algorithm.

To the extent of decentralization, EOS supernodes have certain governance privileges with their powerful rights. Our block producers can’t disrupt the system except through denial of service attacks since almost all of our transactions rely on cryptographic assurance and less dependent on human governance. And since the emergence of DPOS 3.0, the block will be marked as LIB (tamper-proofing) with 2/3 confirmed nodes, and even if all the block producers do wrong things, it can’t be tampered with. This is very important for commercial applications, and commercial companies cannot easily trust the management of super nodes. This way guarantees that no one can tamper with the data that promotes our payment applications.

Our nodes are elected by voting, but we have a better voting model to deal with existing problems versus EOS. For example, the imperfect design of EOS can vote for 30 votes.

Our number of nodes can be dynamically increased with the long-term goal of 24 nodes or more beyond EOS.

Question III

Are everiToken contracts Turing-complete?

Answer:

The answer is No. Our consistent philosophy is that the blockchain should solve the problem it should solve, rather than putting the entire Internet on a blockchain. It is completely unrealistic to accommodate all Internet applications by raising TPS. The number of servers in Google alone should exceed the number of nodes in most public chains. In a decentralized environment, it is theoretically impossible to achieve the same TPS as centralized servers due to the influence of the network.

We have summarized the main areas where everiToken’s blockchain has the greatest advantages and has ingeniously created safe contracts though abstracted, standardized and fixed scenarios. Most of the main functions of the blockchain can be intuitively understood and used through safe contracts guaranteed by consensus. At present, in the various applications we are exposed to, everiToken can meet more than 99% of the requirements, covering traceability, data, tokenization, payments, STO, ABS (asset securitization), and IOT(smart door locks, sensors, etc.), identification, blockchain games and many other areas.

Question IV

How about security? Will it roll back?

Answer:

In theory, almost any blockchain has the possibility of rollback due to the consensus mechanisms and the possibility of nodes performing evil. However, the possibility of rollback for everiToken is very low because it mainly relies on cryptographic guarantees. In addition, we created additional security protection for key areas such as payment, as the network has a certain synchronization before confirming the transaction and avoiding problems caused by network partition.

Question V

How does everiToken improve consensus algorithm to deal with the problem of DPoS nodes jointly doing wrong things ?

Answer:

We apply DPoS after careful research and have improved and solved existing DPoS issues.

About BP. We don’t allow anyone to vote 30 times like EOS, avoiding the possibility of node mutual voting.

Loyalty of DPoS nodes. We deliberately reduced the revenue of the nodes to avoide short-term speculation in the node election campaign. That organization is still willing to campagin for the node is mainly the one who actually builds the application on the chain. These parties are willing to be nodes as long as they can maintain balance, because they concern more about salability of the everiToken and care less the short-term profits.

Jointly doing evil. We don't release much privilege on super nodes like EOS. Our super nodes have almost no special permissions except for faithful accounting. The major behaviors on everiToken are determined by representative governance committee. Nodes can't tamper with data because all data is guaranteed by cryptography. Even if all super nodes are joint doing wrong things, they won't be recognized by other common nodes. Therefore, to refuse service is only one possibility for a node to do evil, but they will soon be voted out.

Question VI

What are the advantages of everiToken in the field of game development?

Answer:

Lowest transaction fee. everiToken public chain greatly shorten cost through technical innovations. The gas fee on Mainnet is extremely low and running game does not require staking. The cost of running game is one thousandth to one ten thousandth of the other public chain, which can be completed in less than 0.01 CNY. Excellent user experience. With Payer Mechanism, everiToken allows users to enjoy blockchain game without knowing the crypto currency. They just need to get the token when needed, and the user only needs to use the game token without need to purchase gas fee EVT. Transaction confirmation within 3 seconds. everiToken public chain provides the everiPay technology which can confirm the transaction within 3 seconds, while EOS takes 3 and a half minutes, and most other public chains take half a minute to 1 hour. On the everiToken public chain, the game can achieve near real-time decentralized transactions. Safe contract. In terms of game props(NFT), everiToken public chain provide a special protocol, developer can use it directly without writing smart contract code.

In general, everiToken mainly target freshmen who have no idea about blockchain, rather than blockchain users, so all designs focus on the goal of easy to use for ordinary people. On the other hand, everiToken try to reduce the R&D costs, which is very different from other public chains who mainly target blockchain developers.