Beacon chain is a new proof of equity (PoS) blockchain, which supports the whole Ethereum 2.0 system like a spine
Beacon chain is a new proof of equity (PoS) blockchain, which supports the whole Ethereum 2.0 system like a spine. Beacon chain is the core to inject vitality into the whole Ethereum 2.0 system, and is responsible for all participants in the command and coordination system.
The key role is to manage the proof of interest protocol for itself and all sharding chains. Including: managing validators and their rights (stacks); At each stage, develop selected block proposers for each shard; Organize validators to form committees to vote on those proposed blocks; Put consensus rules into practice; Reward or punish verifiers; As an anchor point for sharding to register its status on the beacon chain to facilitate cross sharding transactions.
Features: Beacon chain management consensus algorithm and cross shard communication. Each shard can discover hash values of other shards every 6 minutes, while users and applications operate and run on different shards. There is no EVM on the beacon chain and no gas in transactions. The extension time for canceling the pledge is 97 days. No on chain governance is involved.
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