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EOS PowerUp Model officially activated

CryptocurrencyApr 08, 2021 06:00PM ET
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EOS PowerUp Model officially activated

Following a proposal from EOS developer Block.one to improve resource allocation on the EOS blockchain, the testing phase for the PowerUp model is complete and now officially activated.

Back in Q4 2020, Block.one submitted a proposal suggesting a change to how EOS allocates and manages on-chain resources. His proposal targeted two out of the three core resources on the EOS network – CPU bandwidth and network bandwidth.

The developer asserted that there was a problem with the current model where users needed to lock up EOS tokens to reserve resources. He highlighted two primary challenges of this model. First, resources are left sitting idle, and second, there are bottlenecks to obtaining additional resources.

As a solution, Block.one proposed the PowerUp model. The model presents users with the choice of either paying a small fee to power up an account for 24 hours with CPU and NET bandwidth or to bond idle EOS tokens to the network in exchange for a percentage of the fees generated by the entire EOS Public Blockchain.

The PowerUp model is essentially designed to prevent EOS resources from sitting idle while providing a more user-friendly experience when acquiring and using network resources.

According to EOS, the testing program for the model is complete. The next step in active deployment is for the EOS community to formally submit a new proposal to the on-chain governance system to adopt the new model.

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EOS PowerUp Model officially activated
 

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