The Ethereum Beacon chain is one of the few ways to improve Ethereum. Thus, there is a proof of the chain of work. The process requires tons of processing power. Proof of work gives more rewards to people with better equipment and communications. This means that the higher your hash rate, the more likely you are to be the first to solve the puzzle. Thus, the concept of proof of work is really wasteful, because only one miner receives a reward, and all the work of other miners is lost. To change this, we need to implement the concept of proof of stake.
Ethereum Lighthouse
The existing concept of proof of work on the Ethereum blockchain will continue to exist. In parallel with our main blockchain, another blockchain works. The so-called lighthouse circuit. So there are smart contracts that work on the main chain. And within the framework of the main state of the chain, an agreement will be concluded under which users will be able to send deposit transactions. So you have a second blockchain that works with the concept of proof of stake, but still depends on the main chain.
Ethereum beacon chain
What are the requirements for a beacon circuit?
Thus, you can send your 32 Ether to the deposit agreement along with two other parameters. Thus, the function has 3 parameters. First of all, any transaction that is deposited must contain 32 ethers. You also need a specific pub key and a specific withdrawal address. So you will have the pub key for Ethereum, and then you will have another pub key that you use for output.
This way you are providing some data and at least you have two publication keys. When you make the correct transaction, it creates a receipt. Thus, any client of the stake confirmation beacon chain will need at least adequate access to the proof of work chain. Therefore, you should know what block hashes are and what deposit receipts were between any two control points. Thus, to prove customer interest, it is enough to be an easy customer.
How does the lighthouse circuit work?
Thus, the lighthouse chain will exist in parallel with the Ethereum block chain. Due to the certification mechanism, it is likely to have a level much lower than 25 percent. Thus, some evidence of stake blocks have pointers that point to the main chain. Later blocks in the lighthouse chain indicate later blocks in the main chain. Therefore, there is a strict rule of consensus.
Thus, the link to the main chain of the child element must be either the same or a descendant of the link to the main chain of the ancestor. When you process a later block, it will be part of the agreed rules that you must also follow.
Thus, the one who made the deposit earlier will ultimately add himself to the waiting set of the validator, which is stored in a later block. Inside the beacon chain, you have several sets of validators. Thus, in the current set, you have an active validator waiting for the validator and the validator set to exit. Thus, if you make a deposit, you will be combined into a pending validator set.
How does the lighthouse circuit work?
The lighthouse chain is located between the main chain and the fragments. It’s like a connective tissue that provides a heartbeat. A smart contract for the current Ethereum blockchain will allow validators to participate in the protocol of proof of participation in the 32 Ether draw.
Once placed in a pending set of validators in the lighthouse chain, they can become active validators and can participate in the stake proof protocol.
The beacon chain then generates a random number for randomly selecting validators to propose a block and voting responsibilities. With this random sample, we stop the collusion of validators and the impact on the system.
Ethereum Lighthouse Circuit - Summary:
The Ethereum lighthouse chain runs parallel to the Ethereum blockchain.
The lighthouse chain operates based on the stake proof concept
If you want to participate in the betting verification protocol, you need 32 Ether, a pub key and an address for withdrawing funds.
There are pointers in the proof of stake blocks that point to the main chain.
The one who made the deposit earlier adds himself to the waiting set of the validator, which is stored in a later block.
Details:
Website: https://ethereum-beacon.com/
White paper: https://ethereum-beacon.com/whitepaper.pdf
Twitter: https: // twitter.com/BeaconEthereum
Telegram: https://t.me/EthereumBeacon
By (cotel)
Bitcointalk Profile : https://bitcointalk.org/index.php?action=profile;u=2573681
ETH : 0x5E088Eb333c0d58A80271B33533a7118EE660089
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