Discover and read the best of Twitter Threads about #beaconchain
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Some thoughts on #eth culture:
The thing I've always appreciated most about the #Ethereum community is that we don't take ourselves too seriously. This is an underrated characteristic and one well worth protecting. Why?
The thing I've always appreciated most about the #Ethereum community is that we don't take ourselves too seriously. This is an underrated characteristic and one well worth protecting. Why?
Because it creates openness and makes it easier to enter a community for the first time. Everyone starts at zero, so if each tiny fact you don't know yet is A Big Deal there's no ramp to gradually build skill and acquire knowledge, just a cliff you fall off with one misstep.
There's an interesting pattern emerging with takes on the #ethereum #beaconchain launch. People who have been following developments closely are starting to get excited about how close the good stuff is. People who haven't are critical that it isn't here yet. And that's fine.
The whole point of a phased deployment is that the leading edge doesn't carry most of the change. People who say the beacon chain isn't impressive are perfectly welcome to keep ignoring it, while the people who are excited about where we're going keep working.
Awesome roll-up tech will keep rolling out. Awesome beacon chain tech will keep rolling out. Usability will keep going up. EVM will get BLS. The roll-ups that you're already using will get better and cheaper. PoW clients will silently switch over to respecting FFG finality.
ELI5 PoS advantages:
The #beaconchain is close to launch. So what that means? What is #Ethereum #proofofstake (#PoS)?
Here’s a thread to explain what are the differences to PoW and why it is so meaningful. (1/15)
The #beaconchain is close to launch. So what that means? What is #Ethereum #proofofstake (#PoS)?
Here’s a thread to explain what are the differences to PoW and why it is so meaningful. (1/15)
2/15 In Proof of Work (PoW) blockchains, miners have two different computational work to be done.
One, is to check if everyone’s balances and transactions check it out, so nobody is spending coins that they don’t have. This require very low computational power.
One, is to check if everyone’s balances and transactions check it out, so nobody is spending coins that they don’t have. This require very low computational power.
3/15 The other one is trying to solve a puzzle to be entitle to a reward. The first miner to solve the puzzle is able to create some coins from thin air to himself: the block reward.
In PoW, miners invest their money in hash power to be able to solve puzzle more frequently.
In PoW, miners invest their money in hash power to be able to solve puzzle more frequently.
The #Ethereum #proofofstake #phase0 #beaconchain is getting close to launch!
So what?
Here's a thread to explain why millions of dollars of #ETH are being moved into this state of the art gadget, what makes it different from other #PoS systems, and why it was worth the wait!
So what?
Here's a thread to explain why millions of dollars of #ETH are being moved into this state of the art gadget, what makes it different from other #PoS systems, and why it was worth the wait!
First things first: even though the #beaconchain is being referred to as an #eth2 or "Ethereum 2.0" technology, it does not exist to replace the current Ethereum Virtual Machine we know and love as "Ethereum 1.0" today. If you're using the EVM, you're fine. It's not going away.
Instead, the beacon chain is a gadget that was planned even from before the launch of "Ethereum 1.0" to be swapped in for the #proofofwork system, called "Ethash", which currently secures that same EVM environment.
blog.ethereum.org/2014/10/03/sla…
blog.ethereum.org/2014/10/03/sla…
1/ Here comes a thread to give a high-level overview of Ethereum 2.0, and its first phase, the Beacon Chain.
#ethereum #eth2 #beaconchain
#ethereum #eth2 #beaconchain
2/ Ethereum 2.0 is the result of years of research on how to scale Ethereum to deliver thousands of transactions per second and to implement Proof of Stake, addressing environmental and centralization concerns due to Proof of Work.
3/ From a high level, Eth 2.0 will have a hub and spoke model. The hub, called the Beacon Chain, will be the root security of the whole system and provide services such as finality, randomness, and management of validators for all the spoke chains, i.e. the shard chains.
