Block.one and the global blockchain community deployed a new resource allocation model on the EOS Public Blockchain.
About the model
In September 2020, we launched a collaborative program to test a novel EOSIO resource model. The model aimed to enhance resource management on EOSIO public chains, namely the EOS Public Blockchain.
Since then, we’ve received overwhelmingly positive feedback about the model, called the EOS PowerUp Model.
With the model, a user pays a fee and powers up their account for 24 hours to transact on the network. EOS token holders can deposit unused EOS tokens to receive a percentage of the power up fees generated by the entire network.
The EOS PowerUp Model Explained
How public blockchains allocate and manage on-chain resources is extremely important. Some networks operate on the basis of transaction fees, where prices go up as more people try to transact. Those fees are collected by miners.
Block.one Invites EOS Community to Test Proposed Resource Model
By offering bounties for discovery of critical issues and adding resource model testing and engagement to block producer voting criteria, Block.one is calling on the EOS developer community to help test the model.