Beacon project will completely solve the problem of Ethereum network

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Nowadays, scaling is one of the main problems for blockchain technology developers. If we take, for example, the famous Ethereum blockchain, today it is very slow and inefficient. Migrating to a more scalable version of Ethereum is constantly delayed. The Ethereum Beacon project, based on its latest innovative developments, has created a new cryptocurrency project that is fully capable of providing scalability, security and decentralization of the Ethereum blockchain. Ethereum Beacon can seamlessly transition from transparent Proof-of-Work technology to Proof-of-Stake.

Although, as you know, Proof-of-Stake does not provide full scalability, it creates the infrastructure necessary for introducing innovative solutions and applications that will help increase transaction processing speed to 1000 transactions per second or even higher. The Ethereum Beacon project will completely solve the problem of Ethereum network bandwidth without compromising system security. To do this, create a complex scalable block chain in which the most complex solutions will be presented, including a segmented PoS negotiation protocol and an advanced Beacon virtual machine.

Ethereum Beacon Chain is one of several options for improving Ethereum. Thus, there is evidence of the chain. This process requires a lot of processing power. Proof of work gives great appreciation to people with the best equipment and connectivity. This means that the higher your hash level, the more should be the first one to solve the puzzle. Thus, the concept of proof of work is completely in vain, because only one miner receives a prize, and the work of all other miners is lost. To change this, we need to change the concept of stake testing.

Ethereum Lighthouse

The proof of work concept that exists on the Ethereum blockchain will continue to exist. According to our main block chain, there is another block chain. The lighthouse circuit is located. Thus, there are smart contracts that work in the main chain. And upon completion of the main state of the chain, an agreement will be concluded according to which the user will be able to send deposit transactions. So you have a second blockchain that works with the concept of ownership, but still depends on the main chain.

New consensus system

Ethereum Beacon will take network bandwidth to the next level with a revolutionary transaction verification system. The central PoS chain - the key chain - will be responsible for storing and requesting validators. To become a validator, users need to earn the guarantee money, which will be purchased, must be supported. The keychain will also process block-agreed consent and cross-linking itself — approved by a validator that can connect the glass segment to the keychain. In short, this will be the basis on which the sharding system is built.

The combination of internal consensus and cross-separation, independent verification in each segment and storage system will create a fast, efficient and secure network environment that can be used to easily scale and provide dApp applications for all types. Validators will receive a stable return on their investments, while the transition to PoS will solve the problem of energy losses and ensure real decentralization, free from the hegemony of agriculture.

Sharding is the most efficient way to weigh.

Ethereum Beacon does not need every change for every transaction. Instead, the network is divided into larger, more independent segments of the country, confirming different transactions and authorized by different sets of validators. Role fractions with key chains through cross-references - special messages indicating the status of fractions with recent operations can be safely mounted in the main chain. Since the number of confirmations is still large, security in Ethereum Beacon will not be compromised.

Stage of implementation

Alpha phase: transition to PoS / new verification system

Beta phase: introducing basic sharding

Gamma phase: sharding with EVM / EWASM

Delta Phase: for asynchronous cross separation, exponential separation, etc.

Why Ethereum Beacon?

Ethereum Beacon is a new Ethereum-based cryptocurrency project that supports scalability, security and decentralization using the latest innovations developed by the global Ethereum community and the project team itself. By working with smaller networks and more flexible development teams, Ethereum Beacon will be able to make the transition from Proof of Work to Proof of Share faster and without the hindrance created by areas such as mining pools and ASIC manufacturers.

Although PoS alone does not provide scalability, it will create the infrastructure necessary to implement sharding, an innovative scalability solution that can help increase transaction speeds to 1000 or more points per second. In this White Paper, we give a detailed overview of how sharding works and how it will be used in Ethereum beacons.

At the next stage of development, we will introduce a new environment for decentralized applications based on web design W3C WAssembly. This will further improve dApps performance.

As a way to get initial testing support, EBEA tokens will be initially issued by ETH, as well as to all participants in the prize campaign. In the last section of the White Paper, you will find additional information about network snapshots, distribution tokens, and gift terms.

What are the requirements for the flare design?

Thus, you can send your 32 Ether to a deposit agreement along with two other parameters. Thus, the function has 3 parameters. First of all, each necessary transaction must contain 32 ethers. You also need a special pub key and a special address. So you will have the pub key for Ethereum, and then you will have another pub key that you use for output.

Thus, you specify some data and, moreover, you have two keys for approval. When you enter the correct transaction, it creates a receipt. Thus, each client from the torch chain will receive sufficient access to confirm the chain of work. Therefore, you should know what a hash is and what a receipt is between two receiving messages. So, to prove to the customer, just be an easy customer.

How does the flare chain work?

There will be a chain of a lighthouse parallel to the chain of rays of Ethereum. Therefore, more than 25 percent. Thus, some signs of cola have a clue pointing to the main chain. The next block of the flash chain shows the next block in the main chain. Therefore, there are strict rules regarding consensus.

References to the main chain of the child should be equal to or derived from links to the main chain of the ancestors. When you process the block later, it will be part of the corrected rule, which you must also accept.

Thus, the person who makes the deposit will ultimately add it to the validator, which will be saved in the next block. There are several sets of validators within the beacon chain. So in the current set you have active validators, pending validators and validators. Thus, if you make a deposit, you will be combined with a pending set of validator.

Implementation roadmap

Alpha phase: transition to a new PoS system / verification system (Q3 2019 - Q1 2020)

- Snapshot from the Ethereum network - August 8, 2019, 20:00 GMT;

- distribution of free EBEA tokens from photos to ETH users;

- launch a campaign for a fee;

- Launched PoS Test Keychain (Proof-of-Work and Proof-Purchase chains)

key chains coexist);

- Security of money from users who want to become validators in PoS key chains;

- It is not possible to transfer EBEA between the original core PoW network, created to run the basic dApps applications, as well as for the purposes of the Take-Off and Send campaign and PoS keys

Beta phase - implementation of basic sharding (Q2 2020 - Q4 2020)

- Initial implementation of an integrated sharding system with key chains;

- New approval and verification procedures will work here: select pseudo-random block creators and finalizers, lever interceptors, block completion, cross-hooks and receipts, activate intercept data for key chains, save receipts in the Merkle tree, select a committee, etc.

- Sharding will not be used for real transactions at this time;

- Introduction to the rules for blocking fragments (rules for unforeseen circumstances), checking the header, checking the body and checking cross-references.

Gamma phase: sharding with EVM / EWASM (Q1 2021 - Q4 2021)

- completion of the country's construction to a new network of trinkets

- The original PoW network is out of date;

- Implementation of full sharding, including verification of transactions and accounting for account balances performed on individual fractions;

- prizes for validators;

- Development of the Ethereum Beacon Assembly - a faster, more portable alternative to the obsolete Virtual Ethereum machine;

- Check the assembly of Ethereum Beacon on selected fractions.

- Migration to the Beacon Ethereum Assembly in the remaining factions.

Delta phase: cross separation, exponential separation, etc. (Q1 2022 - Q4 2022)

- Migration of the remaining dApp applications from old virtual machines to the Beacon Assembly;

- develop new applications using new virtual machines;

- Further work on asynchronous and synchronous transactions between shards;