AltcoinCryptocurrencyEthereum (ETH)

Ethereum team lead explains the initial stage of ETH 2.0 network

Ethereum’s team lead has explained the Phase 0 of Ethereum (ETH) 2.0. The team lead has presented details about this stage of the Ethereum 2.0 network.

Ethereum 2.0 phase 0 is the initial stage of the ETH2 Proof-of-stake network. Phase 0 stage is also known as Beacon Chain.

Phase 0 for Humans

“Phase 0 for Humans” is a document that the Ethereum foundation has published today. In this document, the foundation has explained the details of the Ethereum 2.0 phase 0 network design and how it will run.

Ethereum 2.0 phase 0 aims to organize the interaction of validators that would be responsible for the confirmation of transactions.

Team Lead’s Danny Ryan says that Beacon chain manages and stores the registry of validators in which the ETH validators are assigned to their work, therefore, it can also be regarded as the system chain or spine chain.

📰 Also read:  Trading Volume vs. Onchain Volume - What is the Difference?

Functions of Validators in Beacon Chain

Ethereum developers explain the functions of validator in Beacon Chain. ETH developers say that validators have five main functions in Beacon Chain.

These five functions are to perform a protocol level random number generation, to progress the Beacon Chain, to vote on the Chain’s head, to finalize the checkpoints, and to link the transactions of shards.

Shards and Cross Links will be presented in Phase 1

Ethereum Foundation has not currently disclosed the information and details of Shards and cross-links. The shards design and cross-links will be presented during the first phase of the ETH2 network.

Shards and crosslinks are not currently contained within the Phase 0 beacon chain. They are the major Phase 1 milestone.

ETH2 validators will build the backbone of the new Ethereum (ETH) in this initial stage (Beacon Chain or Phase 0).

📰 Also read:  Price Analysis October 28th, 2024 - BTC, BNB, ETH, SOL, and DOGE

Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.

📰 Also read:  Price Analysis October 28th, 2024 - BTC, BNB, ETH, SOL, and DOGE

Hassan Mehmood (Saudi Arabia)

Hassan is currently working as a news reporter for Tokenhell. He is a professional content writer with 2 years of experience. He has a degree in journalism.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Skip to content