How IOST handles network resources differently
With EOS network congestion a concern some weeks ago we asked IOST CTO, Terry Wang the fate of IOST in the face of network congestion and how IOST handles network resources differently.
Here is Terry Wang say on the issue:
I don’t know if you’ve heard about the EOS network spike, what are your thoughts?
We see how a network can be taken to a halt just because of speculation on network resources. It is an interesting case study on how congestion can happen due to resources hoarding.
This is not the first time this is happening, why do we have such persistent issue on EOS?
Likely due to how (i) resources can be hoarded, (ii) the willingness of some large resource owners to hoard and (iii) a pricing algorithm that allows infinite price growth in times of scarcity, which creates huge spikes in resource prices along with spikes in network volume.
If I can remember vividly ETH has something similar to this some years ago with Crypto Kitties, is it a normal thing?
ETH was congested due to the network being too slow to cope with a large number of transactions, so it’s a different fundamental reason versus EOS’s congestion (resources hoarding).
Can we say the reason EOS faces this kind of issue is because EOS has a large user base?
Not really, see the answer to 2.
Looking at IOST resources model what makes it better than EOS?
IOST resources system is designed to improve the utilization efficiency of the network and avoid the problem of large wallet holders staking a large number of IOST to monopolize large amounts of system resources.
We have iGAS and iRAM in place of EOS RAM, CPU and NET what difference does it make?
We have simplified resource usage for developers and users by having only two resources to power the network while increasing the overall efficiency of the network.
Can we get a detailed explanation of IOST resources and how they work
At what level can IOST resources become so congested like what we saw on EOS?
We have yet to see IOST become congested, despite hitting real TPS usage of over 2000 transactions per second.
What plans does the team have to help out Dapp on EOS port to IOST?
We will support developers with staking to reduce their costs of running their applications on the IOST network. We also have modules to help EOS Dapps swiftly migrate their applications to IOST. The developer teams can also stand to receive various support ranging from financial incentives, marketing subsidies, and networking within our network.
To know more about IOST resources, you can read this article to understand IOST resources model https://iost.watch/iost-wallet-series-part-2-of-3-beginners-guide-to-iost-resources-iram-igas/
- Recap of HitHub AMA with IOST’s Head of Overseas Marketing Stephanie July 11, 2020
- Recap of IOST AMA with HitHub’s COO Bobby July 9, 2020
- IOST Blockchain July 1 Update June 29, 2020
- IOST Watch – Weekly IOST Digest #57 June 22, 2020
- IOST Blockchain rank top 4 in latest CCID Research Institute ranking June 18, 2020
There has been a lot of questions by new community members on what is happening on July 1 on IOST Blockchain… https://t.co/aInu0vGR4SFollow
A recent ranking by CCID Research Institute ranked IOST as the 4th best Blockchain from a technical perspective. He… https://t.co/GIiX5KbqQAFollow
Good News 😄 Remember IOST Global Alliance made some suggestions weeks ago? One of those issues got solved today.… https://t.co/6TZcwXjeaxFollow