This is a great post. I can understand all of this.
But I need few more information.
Let's say I have 1% of tokens.
- Am I eligible as a producer ?
- What is the difference between me and someone has 2% tokens?
- What's the incentive for me to participate in producing?
- How do we store the data. I mean how do we handle the growing amount of blockchain data. Is there any kind of sharding?
I think the answer to the question 4 may be not related to the consensus algorithm but to the actual blockchain software.
I read the EOS.io docs and it seems like I might hold the 1% of the total size of the blockchain since I hold 1% of tokens.
See here for more
So, that's a kind of a sharding system to me.