🔲The Beacon Chain thread.
The Beacon Chain is an exciting new feature for Ethereum.
You can think about it as a lighthouse for the Ethereum Blockchain.
It will introduce:
- staking
- shard chains
Let's see the key concepts.
↓
The Beacon Chain is an exciting new feature for Ethereum.
You can think about it as a lighthouse for the Ethereum Blockchain.
It will introduce:
- staking
- shard chains
Let's see the key concepts.
↓
Table of Contents
- Definition
- What will the Beacon Chain do?
- Beacon Chain & staking
- Beacon Chain & Shard Chains
- Connection with Mainnet
- Shard Chains release
- Beacon Chain's shipping date
- Definition
- What will the Beacon Chain do?
- Beacon Chain & staking
- Beacon Chain & Shard Chains
- Connection with Mainnet
- Shard Chains release
- Beacon Chain's shipping date
Definition
The Beacon Chain is a brand-new, proof-of-stake blockchain.
You can think of the Beacon Chain as the main spine that will support the new Ethereum 2 system
It will coordinate all the concurrent actors.
The Beacon Chain is a brand-new, proof-of-stake blockchain.
You can think of the Beacon Chain as the main spine that will support the new Ethereum 2 system
It will coordinate all the concurrent actors.
What will the Beacon Chain do?
The Beacon Chain will introduce 2 new features:
- staking: proof-of-stake consensus working with Validators
- Shard Chains: 64 new blockchain that will support the system
Let's see them below.
The Beacon Chain will introduce 2 new features:
- staking: proof-of-stake consensus working with Validators
- Shard Chains: 64 new blockchain that will support the system
Let's see them below.
Beacon Chain & staking
The Beacon Chain will introduce proof-of-stake.
It will involve participants staking ETH to activate validator software. and becoming Validators.
Validators will:
- process transactions.
- create new blocks.
✅Becoming a validator is easier than mining
The Beacon Chain will introduce proof-of-stake.
It will involve participants staking ETH to activate validator software. and becoming Validators.
Validators will:
- process transactions.
- create new blocks.
✅Becoming a validator is easier than mining
Beacon Chain & Shard Chains
Shard Chains will be introduced to the network.
Shard Chains will:
- increase network capacity.
- improve transaction speed.
The Beacon Chain will randomly assign stakers to validate shard chains and make the chain secure.
Shard Chains will be introduced to the network.
Shard Chains will:
- increase network capacity.
- improve transaction speed.
The Beacon Chain will randomly assign stakers to validate shard chains and make the chain secure.
Connection with Mainnet
The Beacon Chain will initially exist separately from the Mainnet.
But at some point, they will be connected.
The plan is to MERGE Mainnet into the proof-of-stake system that's controlled and coordinated by the Beacon Chain.
🗓 Planned for Q2 2022
The Beacon Chain will initially exist separately from the Mainnet.
But at some point, they will be connected.
The plan is to MERGE Mainnet into the proof-of-stake system that's controlled and coordinated by the Beacon Chain.
🗓 Planned for Q2 2022
Shard Chains release
Shard chains can only safely enter the Ethereum ecosystem with a PoS consensus mechanism in place.
The Beacon Chain will introduce staking, paving the way for the shard chain upgrade to follow.
🗓 Planned for 2023
Shard chains can only safely enter the Ethereum ecosystem with a PoS consensus mechanism in place.
The Beacon Chain will introduce staking, paving the way for the shard chain upgrade to follow.
🗓 Planned for 2023
Beacon Chain's shipping date
✅The Beacon Chain has ALREADY been shipped!
Date: December 1, 2020
✅The Beacon Chain has ALREADY been shipped!
Date: December 1, 2020
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