Ethereum Beacon

By Jino | CoinCantik | 1 Aug 2019


As an cryptocurrency investor, you must be prepared to DYOR (do your own research) and take the time to analyze and study any potential ICO you may wish to invest in. It is so easy to get caught up in fake marketing and hype, leading you to make bad decisions. No matter how great the website looks or how many of your so called ‘trusted’ YouTubers promote any given, you can only really trust yourself and what you as the investor believe to be the truth.

Below I will to give you one of potential project that interest you !!!

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In modern times, scaling is one of the main issues for blockchain technology developers. If we take, for example, the well-known blockchain Ethereum , then today it is extremely slow and inefficient. The transition to a more scalable version of Ethereum is constantly delayed. The Ethereum Beacon project , based on its newest innovative developments, creates a new cryptocurrency project that is fully capable of ensuring the scalability, security and decentralization of the Ethereum blockchain . Company Ethereum Beacon is able to make a smooth transition from transparent technology Proof-of-Work to Proof-of-Stake. Although, as you know, Proof-of-Stake does not provide full scaling, but it creates the necessary infrastructure for the introduction of innovative solutions and applications that will help increase the speed of transaction processing up to 1000 transactions per second or even higher. The Ethereum Beacon project will completely solve the Ethereum network bandwidth problem without compromising the security of the entire system. To do this, an advanced scalable blockchain is created in which the most advanced solutions will be presented, including the segmented PoS consensus protocol and the improved Beacon virtual machine.

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Ethereum Beacon aims to become the world's computer for the next generation of decentralization applications. 
To do this, we are building a new, highly scalable blockchain that will introduce a number of advanced solutions, including sharding, validator-based PoS consensus protocols and upgraded virtual machines, Beacon Assembly. This project will solve Ethereum network capacity issues that are delayed without compromising security system. 
At the same time, it will promote the ideals of democracy distributed through the Proof-of-Stake scheme, which will equalize the opportunities of all transaction validators, from individual GPU users to large mining operations. This and many other solutions will make EBEA the most important programmed money designed by Ethereum.

New consensus system

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Ethereum Beacon will bring network capacity to a new level by introducing a system of validating revolutionary transactions. Chain of central PoS - key chain - will be responsible for storing and updating the validator registry. To become a validator, users need to make a security deposit, which will minimize the risk of abusive behavior. The key chain will also process the block-by-block consensus and its own cross link - a confirmation set by the validator that makes it possible to insert shard segments into the key chain.
In short, it will be the basis on which the sharding system is built. The combination of internal consensus and crossing, independent validation in each shard, and storage system will create a fast, efficient and safe network environment that can easily scale and accommodate dApps of all type. 
Validators will get a stable return on their deposit investment, while the transition to PoS will solve the problem of energy waste and achieve real decentralization - free from mining agricultural hegemony. 
Sharding - the most efficient way to measure
In Ethereum Beacon, there is no need for each node to confirm each transaction. Instead, the network is divided into many fractions - segments of the country that work independently, confirm different transactions and are empowered by different sets of validators. Fractions interact with key chains through cross-links - special messages indicating that fractional conditions with recently confirmed operations can be safely inserted into the main chain. Because the confirmation number is still high, security will not be compromised in Ethereum Beacon.

Implementation phase

  • image.pngAlpha Phase: Transition to a new PoS / validation system
  • Beta Phase: Implementation of Basic Sharding
  • Gamma Phase: Sharding with EVM / EWASM
  • Phase Delta: For asynchronous cross-sharding, exponential sharding 

Implementation Roadmap

Alpha phase: 

  • Transition to new PoS / validation system (Q3 2019 - Q1 2020)
  • Snapshots of the Ethereum network - August 8, 2019, 20:00 GMT;
  • Free distribution of EBEA tokens after photos to ETH users;
  • Launch of the gift campaign;
  • Launch the key chain PoS test (main-work-proof chain and key-joint-chain evidence);
  • Security deposits from users who wish to become validators on PoS key chains;

Beta phase

  • Implementation of Basic Sharding (Q2 2020 - Q4 2020)
  • Initial implementation of the sharding system integrated with key chains;
  • Test new consensus and validation procedures will work in it: pseudo-random block maker and finalizers selection, voting mechanism, block finalization, creating cross-links and receipts, forwarding collection data to key chains, storing receipts on Merkle trees, size committee, etc .;
  • Sharding will not be used to carry out actual transactions at this stage; - Introduction of rules for selecting shard block forks (contingency rules), header verification, body verification, and crosslink verification.

Gamma phase: 

  • Sharding with EVM / EWASM (Q1 2021 - Q4 2021)
  • Complete state migration to a new key chain network;
  • The original PoW chain will become obsolete;
  • Full implementation of sharding, including confirmation of transactions and recording of account balances performed on individual fractions;
  • Prizes for validators;
  • Development of the Ethereum Beacon Assembly - a faster, more portable alternative to the outdated Virtual Ethereum engine;
  • Test the Assembly of the Ethereum Beacon on the selected fraction. - Migrate to the Assembly of Beacon Ethereum in the remaining pieces.

Delta phase: 

  • Sharding cross, exponential sharding and so on (Q1 2022 - Q4 2022)
  • The remaining dApps migration from the old virtual machine to Beacon Assembly;
  • Develop new applications using a new virtual machine;
  • Further work on asynchronous and synchronous cross-shard transactions;
  • Begin working on exponential sharding 

Useful Link :

Author :

Bitcointalk Profile : maniabireta

ETH Address : 0x0a897Df7C706b134E19c7ea2D835FF765842B395

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Jino
Jino

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