You're reading from Learn Ethereum - Second Edition

Product typeBook

Published inAug 2023

PublisherPackt

ISBN-139781804616512

Edition2nd Edition

Concepts

Blockchain

Authors (3):

Xun (Brian) Wu

Zhihong Zou

Dongying Song

View More author details

Introducing Beacon Chains and Eth2

In this section, we will discuss how the Beacon Chain works in Eth2, and the key components of the Beacon Chain client.

PoS in Eth2

You may remember that we analyzed both PoW and PoS consensus algorithms in depth in the Anatomizing blockchain consensus mechanisms section of Chapter 1, Blockchain and Cryptocurrency. We discussed the advantages and disadvantages of both algorithms. The main issue with PoW is that it is energy-intensive, has a high cost of mining, and is less scalable.

Eth2, originally known as Serenity, is planned to be the system’s final upgrade, as the entire network transitions from a PoW to a PoS consensus algorithm, and tackles fundamental questions such as scalability, economic finality, and security. It plans to fade out the PoW chain over time via the merge between Eth1 and Eth2.

In its simplest form, with PoW, miners invest in GPU an ASIC, and consume a large sum of electricity as the expense to perform the...

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Learn Ethereum - Second Edition

Published in: Aug 2023Publisher: PacktISBN-13: 9781804616512

Authors (3)

Xun (Brian) Wu

Xun (Brian) Wu is a senior blockchain architect and consultant. With over 20 years of hands-on experience across various technologies, including Blockchain, big data, cloud, AI, systems, and infrastructure, Brian has worked on more than 50 projects in his career. He has authored nine books, which have been published by O'Reilly, Packt, and Apress, focusing on popular fields within the Blockchain industry. The titles of his books include: Learn Ethereum (First Edition), Learn Ethereum (Second Edition), Blockchain for Teens, Hands-On Smart Contract Development with Hyperledger Fabric V2, Hyperledger Cookbook, Blockchain Quick Start Guide, Security Tokens and Stablecoins Quick Start Guide, Blockchain by Example, and Seven NoSQL Databases in a Week.
Read more about Xun (Brian) Wu

Zhihong Zou

Zhihong Zou is an innovative technology leader with over 20 years of experience delivering cutting-edge enterprise solutions. He has led transformative solutions in telecommunications, healthcare, and government that leverage blockchain, AI/ML, and modern cloud architectures to solve complex business challenges. As an insightful visionary and trusted advisor, Zhihong is passionate about driving digital transformation and future-proofing organizations. He holds an M.Sc degree in computational mathematics and an M.Sc in computer science. Zhihong has authored multiple papers on numerical computing and two popular editions of the book Learn Ethereum. In his free time, Zhihong enjoys sharing his blockchain expertise as an advocate and writer.
Read more about Zhihong Zou

Dongying Song

Dongying Song has been a noteworthy leader in Blockchain, Ethereum, big data, ML, data science, and the cloud application development space for over 8 years. As an experienced software engineer and data scientist, she has worked for top-tier banks and pharmaceutical and technology companies. Dongying holds a master's degree in statistics from Columbia University and majored in mathematics during her undergraduate years. Her recent activities focus on Blockchain, Ethereum, and smart contract developments.
Read more about Dongying Song

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You're reading from Learn Ethereum - Second Edition

Introducing Beacon Chains and Eth2

PoS in Eth2

Unlock this book and the full library FREE for 7 days

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Et al.

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