20IT107 IT384 Blockchain Technologies

PRACTICAL – 2

AIM: Creating a Multi Node EOSIO Blockchain

Theory
EOSIO blockchain

EOSIO is a blockchain platform designed for building decentralized applications (dApps) and smart
contracts. It was created by the company Block.one and is based on the delegated proof-of-stake
(DPoS) consensus algorithm, which is designed to provide fast transaction confirmation times and
high throughput.

EOSIO provides developers with a number of features and tools for building decentralized
applications, including:

1. Smart contracts: EOSIO allows developers to create and execute smart contracts in a variety
of programming languages, including C++, Rust, and Python.

2. Scalability: The DPoS consensus algorithm used by EOSIO is designed to provide fast
confirmation times and high throughput, allowing the platform to support a large number of
transactions per second.

3. Resource allocation: EOSIO provides a unique resource allocation system that allows users to
stake tokens in order to access bandwidth, CPU, and storage resources on the platform.

4. Governance: EOSIO provides a decentralized governance system that allows token holders
to vote on decisions related to the platform's development and future direction.

5. Wallets and tools: EOSIO provides a number of wallets and development tools to make it
easier for developers to build and deploy decentralized applications on the platform.

EOSIO has been used to build a number of decentralized applications and platforms, including social
media platforms, decentralized exchanges, and gaming platforms. It is considered to be one of the
most promising blockchain platforms for enterprise applications due to its scalability, governance
features, and support for a wide range of programming languages.

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20IT107 IT384 Blockchain Technologies

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