Topic: 💥[ANN]💥ETHEREUM BEACON - A rapid transition to Proof-of-Stake ✈️ - page 10. (Read 8244 times)
What's the total number of coins the new chain will start with?
How will the Proof-of-Stake mining work in Ethereum Beacon? What are the features?
The project is worthy of attention, the demand from the community is guaranteed.
I will be happy to follow the development of the project. I hope that the launch will take place on time.
How will you solve the scaling problem? Major decisions? 
Will there be a signature campaign here?
They have now launched bounty campaign and you can also participate in signature campaign https://bitcointalksearch.org/topic/bountyethereum-beacon-a-rapid-transition-to-proof-of-stake-3m-5168539 I also took part to join telegram campaign 
Will there be a signature campaign here?
The project is worthy of attention, the demand from the community is guaranteed.
How do you want to increase network bandwidth? Is that possible?
The project is worthy of attention, the demand from the community is guaranteed.
I will be happy to follow the development of the project. I hope that the launch will take place on time.
OUR WORK
Ethereum Beacon aims to be the world computer for the next generation of decentralized applications. To do this, we are building a highly scalable new blockchain that will introduce a whole host of advanced solutions, including sharding, a validator-based PoS consensus protocol, and an improved virtual machine, Beacon Assembly.
The project will resolve the pending network capacity issue of Ethereum without compromising the security of the system. At the same time, it will promote the ideals of distributed democracy through its Proof-of-Stake scheme, which will level the opportunities of all transaction validators, from individual GPU users to large mining operations. This and many other solutions will make EBEA the ultimate programmable money that Ethereum was originally designed to be.
A new consensus system Ethereum Beacon will take network capacity to a new level with the introduction of a revolutionary transaction validation system. The central PoS chain – the Key chain - will be responsible for storing and updating the registry of validators. To become a validator, a user will need to make a security deposit, which will minimize the risk of abusive behaviour. The Key chain will also process its own block-by-block consensus and cross-links – sets of confirmations by validators that allow to insert a shard segment into the Key chain. In short, it will be the foundation on which the sharding system is built. The combination of internal and cross-shard consensus, independent validation within each shard, and a system of deposits will create a fast, efficient, and secure network environment that can easily scale and accommodate dApps of all types. Validators will earn 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 the hegemony of mining farms. | Sharding – the most efficient way to scale In Ethereum Beacon, there is no need for each node to confirm every single transaction. Instead, the network is split into numerous shards – segments of the state that work independently, confirming different transactions and powered by different sets of validators. Shards interact with the Key chain via cross-links – special messages that indicate that the state of a shard with its recently confirmed operations can be safely included into the main chain. Since the number of confirmations is still high, the security will not be compromised in Ethereum Beacon. Implementation phases Phase Alpha: transition to a new PoS/validation system Phase Beta: Implementation of Basic Sharding Phase Gamma: Sharding with EVM/EWASM Phase Delta: to asynchronous cross-sharding, exponential sharding and beyond |
Phase Alpha: transition to a new PoS/validation system
Phase Alpha will mark the transition to a hybrid model of consensus, where Proof-of-Work and Proof-of-Stake will coexist for a while. After the mainnet is launched and the EBEA tokens are distributed in a massive airdrop, a completely new blockchain will be created, called the Key chain. While it will not include sharding yet, it will help users adapt to the new consensus model.
In this first phase, users who wish to become validators will have to make a security deposit and will start receiving a stable PoS mining revenue. We do not expect large mining pools to disappear from the scene, however: nothing prevents users and institutions to control several validator nodes. However, mining companies will not have any advantage over independent miners in terms of their chances to confirm a transaction and receive a payment.
At this stage, EBEA coins will not be freely transferable between the original PoW chain, created for the migration of the network state and the purposes of the airdrop and bounty campaigns, and the new PoS key chain.
In this first phase, users who wish to become validators will have to make a security deposit and will start receiving a stable PoS mining revenue. We do not expect large mining pools to disappear from the scene, however: nothing prevents users and institutions to control several validator nodes. However, mining companies will not have any advantage over independent miners in terms of their chances to confirm a transaction and receive a payment.
At this stage, EBEA coins will not be freely transferable between the original PoW chain, created for the migration of the network state and the purposes of the airdrop and bounty campaigns, and the new PoS key chain.
Phase Beta – Implementation of Basic Sharding
In this second phase, an initial implementation of the sharding system will be integrated with the Key chain. The solution will follow the principle of database sharding, which is widely used in IT. Various parts of the Ethereum Beacon network state will be stored by different nodes.
The key objective of Phase Beta is to construct a valid sharding network and test how the new consensus and validation procedures will work on it. At this point, the Ethereum Beacon network will not use sharding for the actual execution of transactions and recording of account balances.
We will introduce rules for shard block fork choice, header verification, body verification, and crosslink verification.
The key objective of Phase Beta is to construct a valid sharding network and test how the new consensus and validation procedures will work on it. At this point, the Ethereum Beacon network will not use sharding for the actual execution of transactions and recording of account balances.
We will introduce rules for shard block fork choice, header verification, body verification, and crosslink verification.
Phase Gamma: Sharding with EVM/EWASM
At this stage, Ethereum Beacon will complete its migration to the new Key chain network. Sharding will be fully implemented, including transaction confirmations and recording of account balances done on individual shards.
Validators will begin receiving higher rewards but will also face a higher degree of responsibility: any abusive behaviour will be punished by exclusion from the validation pool and a potential loss of their security stake.
Ethereum Beacon will develop a faster, more portable alternative to the outdated Ethereum Virtual machine, called Beacon Assembly. It will become the new runtime environment for executing smart contracts. Beacon Assembly will be specifically optimized to run code as fast as a native machine. It will support smart contracts written not only in Solidity, but also in C, C+, Go, Rust, and other languages.
Validators will begin receiving higher rewards but will also face a higher degree of responsibility: any abusive behaviour will be punished by exclusion from the validation pool and a potential loss of their security stake.
Ethereum Beacon will develop a faster, more portable alternative to the outdated Ethereum Virtual machine, called Beacon Assembly. It will become the new runtime environment for executing smart contracts. Beacon Assembly will be specifically optimized to run code as fast as a native machine. It will support smart contracts written not only in Solidity, but also in C, C+, Go, Rust, and other languages.
Phase Delta: asynchronous cross-sharding, exponential sharding and beyond
At this stage, the migration of most dApps from the old virtual machine to Beacon Assembly will be complete, and a host of new applications will be developed using the new VM. This will allow to move on to truly exciting opportunities.
One of them is cross-shard transactions – performing transactions that instantly and automatically change the state of multiple shards, with asynchronous execution in different blocks. Asynchronous cross-sharding is essential for a proper scaling of the sharding system.
Yet another interesting solution that Ethereum Beacon plans to implement is exponential sharding – the ultimate scaling solution of the future, based on splitting every shards into numerous second-level shards (quadratic sharding) and then potentially dividing those into even smaller shards. This can increase the network capacity to a level that is impossible even for such networks as Visa and Mastercard.
One of them is cross-shard transactions – performing transactions that instantly and automatically change the state of multiple shards, with asynchronous execution in different blocks. Asynchronous cross-sharding is essential for a proper scaling of the sharding system.
Yet another interesting solution that Ethereum Beacon plans to implement is exponential sharding – the ultimate scaling solution of the future, based on splitting every shards into numerous second-level shards (quadratic sharding) and then potentially dividing those into even smaller shards. This can increase the network capacity to a level that is impossible even for such networks as Visa and Mastercard.
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launch date: August 8, 2019
Wallet - https://beacon-wallet.com
Website - https://ethereum-beacon.com
Whitepaper - https://ethereum-beacon.com/whitepaper.pdf
FAQs - https://ethereum-beacon.com/faq.html
[email protected]
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