Five Hidden Principles of Ethereum 2.0 Staking and Verification

特邀专栏作者

2020-05-12 18:04 (UTC+8)

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With the long-awaited Ethereum 2.0 in the community, users are also preparing for a major system transition from the PoW model to PoS.

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With the long-awaited Ethereum 2.0 in the community, users are also preparing for a major system transition from the PoW model to PoS.

Editor's Note: This article comes fromFirst class warehouse blockchain research institute (ID: first_vip1), reprinted by Odaily with authorization.

Editor's Note: This article comes from

First class warehouse blockchain research institute (ID: first_vip1)

, reprinted by Odaily with authorization.

The Ethereum community may be facing some difficulties in transitioning from PoW to PoS, here is what you need to know.

With the long-awaited Ethereum 2.0 in the community, users are also preparing for a major system transition from the PoW model to PoS. In a PoW network, miners must compete with each other to solve the hard problem to verify the block. The first miner to solve the problem gets the block reward. In a PoS network, token holders (validators) need to "stake" or use tokens to verify transactions. Validators are rewarded with newly "minted" tokens if correct transactions are validated, but severely penalized if validation passes wrong or incorrect transactions.

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Principle 1: "Delegate Wins"

At the same time, a good system of checks and balances is formed within the network. If a validator does not follow certain staking rules, both validators and delegators may be penalized with funds. In this way, the principal will choose those verifiers who provide integrity and good reputation services. The two parties rely on each other, and finally form a cooperative and symbiotic relationship.

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Different regions have different regulations, taxation and personal relationships in specific countries, which will affect validators' entrustment. This also means that validators will mine multiple networks at the same time in different geographic areas. The result is validators in different geographies, providing local domain delegation services across multiple networks.

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Validators overlap for most major networks as validators diversify their investments. That said, Ethereum 2.0, Skale, Cosmos, etc. are roughly equivalent in security, as validators on major networks will want to diversify their offerings and revenue by validating across multiple major networks. The overall effect is to create a stronger, more stable set of networks with reliable validators that delegators can work with.