Beacon chain: a new starting point for Ethereum 2.0

Although Ethereum 2.0 is still named after Ethereum, Ethereum 1.0 and Ethereum 2.0 are actually two completely different architectures. The difference between Ethereum 1.0 and 2.0 is far from the difference between POW and POS. In Ethereum 2.0, the basic chain is the “beacon chain”.

In the real Ethereum 2.0, only pos does not have pow. In the beacon chain, the token is called BETH, and the ratio of BETH to ETH is 1:1. When Ethereum 2.0 is actually launched, the ETH of Ethereum 1.0 can be directly converted into BETH. However, this is a one-way ticket, ETH can be exchanged for BETH, and BETH cannot be converted to ETH.

Ethereum 1.0: King of the Smart Contracts

  In the Ethereum 1.0 era, smart contracts are best known, and they also ignited public enthusiasm for dapp. However, from the current point of view, no matter whether it is Ethereum or other public chain, there has not been a decent dapp. The Ethereum tps is slow and gas is expensive, but it has become the label of Ethereum 1.0.

Although at the beginning of the project, Ethereum was set to move from pow to pos, this change is far from being as simple as everyone thought. At least Ethereum has been prepared for so long, and it is only the basis of Ethereum 2.0. The test chain of the standard chain came out, and there is still a lot of work to do.

The little prodigy also said that Ethereum went from pow to pos, just like the airplane was changing engine engine during flight. If the whole project is not completed, the development team of Ethereum is still very radical, and all the work is in parallel, and I will go all out to change this engine.

 

Beacon chain: Ethereum 2.0 engine

According to the plan, in the Ethereum 2.0 beacon chain, you can apply for a “node” to mine if you have 32 BETHs. You can also entrust your BETH to others to “mining”. Because the number threshold is not high, ordinary people can also apply to become nodes, which provides some support for "decentralization." If Ethereum 2.0 requires 320,000 to apply for a node, it is estimated that Ethereum 2.0 will eventually become a plaything in the hands of the “centralized exchange”. Because no one has a coin in hand, it can be more than the currency of the exchange.

In addition, in order to improve the speed of the new standard chain, Ethereum 2.0 has been divided into 1024 intervals. In Ethereum 1.0, the Ethereum main chain can handle up to 20 transactions per second. If you want to be a world computer, this number is obviously not enough. In order to ensure "safe", Ethereum 2.0 is directly divided into 1024 areas.

These 1024 areas will "divide and process" the incoming information. In short, Ethereum 2.0 divides the beacon chain into 1024 areas. The original one is divided into 1024 people, and the efficiency improvement is certain. In the setting of the block speed, Ethereum 2.0 was released in 6 seconds, which is much faster than 1.0.

According to the setting, the 1024 areas, each area has a verifier committee (128 verifiers), this verification committee is mainly responsible for the verification of the area. This processing speed will obviously increase. Therefore, the little prodigy said that Ethereum 2.0 can increase the efficiency by 1000 times compared with 1.0. This figure is not a flicker.

Beacon chain, focusing on the safety of the entire public chain

Although this kind of dispersion improves efficiency, it also brings security risks. In the Ethereum 1.0 era, it would be quite difficult to launch a 51% attack. But now it is divided into 1024 areas. If someone concentrates on fire to attack an area, the theoretical power is 1/1024. Therefore, in order to prevent the verifier committee from being manipulated (51% attack), the beacon chain will redistribute the verifier of the slice chain every 64 blocks.

In fact, as a brand new blockchain, the beacon chain mainly bears two important responsibilities;

First, as a gateway to the pledge system, the verifier can safely participate in the pledge system as a new miner;

Second, the index of the slice state is stored. The beacon chain does not store any information stored on the current Ethereum blockchain, it only stores the verifier list and certification information.

From the operational mechanism, the beacon node is the builder of the beacon chain, they process a large amount of data, and send the data to the verifier for verification; the verifier constructs the block and sends it back to the beacon node. The verifier pledges BETH to get a chance to get a block, and if they propose a block with the consent of other verifiers, they will be rewarded.

The purpose of this design is to allow the beacon chain to focus on the security of the entire public chain. As for other work, it will be solved on the second floor. Through the two-tier architecture mode, the impossible triangle of the blockchain is truly solved.