Updated introduction in the README file

README.md

@@ -3,16 +3,32 @@
 # Beta Mirror Node
 
 This BetaMirrorNode implementation supports CryptoService, FileService and SmartContractService through a proxy.
-It can also parse the RecordStream and balance files generated by Hedera nodes.
+It can also parse the RecordStream, balance, and events files generated by Hedera mainnet and testnet nodes.
 
-## Description
+## Overview
+
+Hedera mirror nodes receive the information from the mainnet nodes and they provide value-added services such as providing audit support, access to historical data, transaction analytics, visibility services, security threat modeling, state proofs, data monetization services, etc. Mirror nodes can also run additional business logic to support applications built using Hedera mainnet.
+
+While mirror nodes receive information from the mainnet nodes, they do not contribute to consensus on the mainnet, and their votes are not counted. Only the votes from the mainnet nodes are counted for determining consensus. The trust of Hedera mainnet is derived based on the the consensus reached by the mainnet nodes. That trust is transferred to the mirror nodes using signatures, chain of hashes and state proofs.
+
+### Beta mirror node
+
+Eventually, the mirror nodes can run the same code as the Hedera mainnet nodes so that they can see the transactions in real time. To make the initial deployments easier, the beta mirror node strives to take away the burden of running a full Hedera node through creation of periodic files that contain processed information (such as account balances or transaction records), and have the full trust of the Hedera mainnet nodes. The beta mirror node software reduces the processing burden by receiving pre-constructed files from the mainnet, validating those, populating a database and providing REST APIs.
 
-Beta mirror node is a temporary mirror node implementation until the Hedera Mirrornet and associated Mirror Nodes receiving gossip about gossip are available.
+
+#### Advantages of beta mirror node
+
+- Lower compute, bandwidth requirement
+- It allows users to only save what they care about, and discard what they don’t (lower storage requirement)
+- Easy searchable database so the users can add value quickly
+- Easy to consume REST APIs to make integrations faster
+
+## Description
 
 The Beta mirror node works as follows:
 
 - When a transaction reaches consensus, Hedera nodes add the transaction and its associated record to a record file.
-- The file is closed on a regular cadence and a new file is created for the next batch of transactions and records. The interval is currently set to 1 minute but may vary between networks.
+- The file is closed on a regular cadence and a new file is created for the next batch of transactions and records. The interval is currently set to 5 seconds but may vary between networks.
 - Once the file is closed, nodes generate a signature file which contains the signature generated by the node for the record file.
 - Record files also contain the hash of the previous record file, thus creating an unbreakable validation chain.
 
@@ -23,6 +39,8 @@ The Beta mirror node works as follows:
 - For each valid signature file, the corresponding record file is then downloaded from the cloud.
 - Record files can then be processed and transactions and records processed for long term storage.
 
+- Event files are handled in exactly the same manner.
+
 - In addition, nodes regularly generate a balance file which contains the list of Hedera accounts and their corresponding balance which is also uploaded to S3 and Google File Storage.
 - The files are also signed by the nodes.
 - This mirror node software can download the balance files, validate 2/3rd of nodes have signed and then process the balance files for long term storage.