Ethereum’s team lead has explained the Phase 0 of Ethereum (ETH) 2.0. The team lead has presented details about this stage of the Ethereum 2.0 network.
Ethereum 2.0 phase 0 is the initial stage of the ETH2 Proof-of-stake network. Phase 0 stage is also known as Beacon Chain.
Phase 0 for Humans
“Phase 0 for Humans” is a document that the Ethereum foundation has published today. In this document, the foundation has explained the details of the Ethereum 2.0 phase 0 network design and how it will run.
Just updated the "Phase 0 for Humans" doc to v0.10.0. We use this to help onboard new contributors, auditors, etchttps://t.co/HCoQM0rWZ6
Thanks @protolambda and @CarlBeek for helping put this together!
— dannyryan (@dannyryan) January 12, 2020
Ethereum 2.0 phase 0 aims to organize the interaction of validators that would be responsible for the confirmation of transactions.
Team Lead’s Danny Ryan says that Beacon chain manages and stores the registry of validators in which the ETH validators are assigned to their work, therefore, it can also be regarded as the system chain or spine chain.
Functions of Validators in Beacon Chain
Ethereum developers explain the functions of validator in Beacon Chain. ETH developers say that validators have five main functions in Beacon Chain.
These five functions are to perform a protocol level random number generation, to progress the Beacon Chain, to vote on the Chain’s head, to finalize the checkpoints, and to link the transactions of shards.
Shards and Cross Links will be presented in Phase 1
Ethereum Foundation has not currently disclosed the information and details of Shards and cross-links. The shards design and cross-links will be presented during the first phase of the ETH2 network.
Shards and crosslinks are not currently contained within the Phase 0 beacon chain. They are the major Phase 1 milestone.
ETH2 validators will build the backbone of the new Ethereum (ETH) in this initial stage (Beacon Chain or Phase 0).