{"id":10563,"date":"2023-02-07T14:26:20","date_gmt":"2023-02-07T14:26:20","guid":{"rendered":"https:\/\/www.bitnovo.com\/blog\/?p=10563"},"modified":"2022-05-17T09:17:50","modified_gmt":"2022-05-17T09:17:50","slug":"what-is-beacon-chain","status":"publish","type":"post","link":"https:\/\/www.bitnovo.com\/blog\/en\/what-is-beacon-chain","title":{"rendered":"What is Beacon Chain?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Alternar tabla de contenidos\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-beacon-chain\/#why_was_beacon_chain_created\" >Why was Beacon Chain created?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-beacon-chain\/#how_does_the_beacon_chain_work\" >How does the Beacon Chain work?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-beacon-chain\/#what_components_make_up_the_beacon_chain\" >What components make up the Beacon Chain?<\/a><\/li><\/ul><\/nav><\/div>\n<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 3<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span><p class=\"p1\">If you move in the world of\u00a0<strong>cryptocurrencies<\/strong>\u00a0you will know that there are countless projects capable of moving the world. Sometimes we only look at the top ten coins in terms of market capitalization, however, there are some projects worthy of being studied and known. That is why today we will tell you all about what\u00a0<strong>Beacon Chain<\/strong>\u00a0is.<\/p>\n<p class=\"p1\">To get an idea of the importance of this project, we should know that Beacon chain is a new blockchain that has PoS or Proof of Stake. This algorithm implements the\u00a0<strong>Casper FFG<\/strong>\u00a0consensus protocol.<\/p>\n<p class=\"p1\">The Beacon Chain was one of the blockchains launched on the Ethereum network with the goal of accelerating the\u00a0<strong>adoption of\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-blockchain-and-how-does-it-work\/\">Blockchain<\/a>\u00a0technology<\/strong>\u00a0at the\u00a0<strong>enterprise<\/strong>\u00a0level. This network helps the development of the Ethereum network as it would result in enterprises to start using the Ethereum network in a<strong>\u00a0secure and scalable way.<\/strong><\/p>\n<p class=\"p1\">Simply put, it sits at the core of\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-the-algorithm-casper\/\">Ethereum 2.0<\/a>\u00a0storing and managing a registry of validators while coordinating shard chains.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<p>&nbsp;<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2 class=\"p1\"><span class=\"ez-toc-section\" id=\"why_was_beacon_chain_created\"><\/span><b>Why was Beacon Chain created?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"p1\">This was one of the most anticipated enhancements to<strong>\u00a0Ethereum<\/strong>. Beacon Chain went live on\u00a0<strong>December 1, 2020<\/strong>\u00a0and its start meant a before and after for the platform. This is because Eth2\u2019s Beacon Chain ensures increased\u00a0<strong>scalability and its capacity<\/strong>\u00a0across the network.<\/p>\n<p class=\"p1\">The benefits of Beacon Chain go beyond the Ethereum network, since as we mentioned above, it boosts the adoption of blockchain technology in companies. Moreover, this chain is a further step in the development of\u00a0<strong>Ethereum 2.0<\/strong>\u00a0as it represented\u00a0<strong>phase 0<\/strong>\u00a0of the planned evolutions in that project.<\/p>\n<p class=\"p1\">The Beacon chain was created under several\u00a0<strong>definitions<\/strong>, including the backbone that supports the entire new\u00a0<strong>Ethereum 2.0 system, the engine<\/strong>\u00a0that keeps the system alive and the<strong>\u00a0coordinator<\/strong>\u00a0of all the parts. Below we will see how this novel system works.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<p>&nbsp;<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div id=\"image_1894914031\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img fetchpriority=\"high\" decoding=\"async\" class=\"attachment-large size-large lazyloaded\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/08\/%C2%BFQu%C3%A9-es-Beacon-Chain1.jpeg\" sizes=\"(max-width: 768px) 100vw, 768px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/08\/\u00bfQu\u00e9-es-Beacon-Chain1.jpeg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/08\/\u00bfQu\u00e9-es-Beacon-Chain1-300x205.jpeg 300w\" alt=\"\u00bfQu\u00e9-es-Beacon-Chain?\" width=\"768\" height=\"526\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/08\/\u00bfQu\u00e9-es-Beacon-Chain1.jpeg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/08\/\u00bfQu\u00e9-es-Beacon-Chain1-300x205.jpeg 300w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/08\/\u00bfQu\u00e9-es-Beacon-Chain1.jpeg\" data-sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/div>\n<\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<p>&nbsp;<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2 class=\"p1\"><span class=\"ez-toc-section\" id=\"how_does_the_beacon_chain_work\"><\/span><b>How does the Beacon Chain work?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>&nbsp;<\/p>\n<p class=\"p1\">The Beacon Chain is continuously\u00a0<strong>scanning, validating, collecting and collecting<\/strong>\u00a0certain rewards for\u00a0<strong>validators<\/strong>\u00a0who correctly check locks, decreasing rewards for users who are not\u00a0<strong>online<\/strong>\u00a0and for users who act<strong>\u00a0maliciously.<\/strong><\/p>\n<p class=\"p1\">The main function of this blockchain is to<strong>\u00a0manage<\/strong>\u00a0the\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-proof-of-stake-and-how-does-it-work\/\"><strong>Proof of Stake<\/strong><\/a>\u00a0protocol and all the shard chains in the\u00a0<strong>Eth2<\/strong>\u00a0network. This job entails functions such as\u00a0<strong>managing<\/strong>\u00a0the validators and their stakes and<strong>\u00a0naming<\/strong>\u00a0the chosen block manager on each shard and at each step.<\/p>\n<p class=\"p1\">Through the Beacon Chain, validators are organized into committees where they vote for the\u00a0<strong>proposed blocks<\/strong>, applying the rules of consensus and applying the necessary\u00a0<strong>rewards<\/strong>\u00a0and sanctions to the validators themselves. In addition to all these functions, which are not few, this chain works as an anchor point where the shards<strong>\u00a0register their states facilitating cross-shard transactions.<\/strong><\/p>\n<p class=\"p1\">It should be noted that, despite being able to execute so many functions, it is not possible to execute smart contracts. Instead, fragment chains will be used.<\/p>\n<p class=\"p1\">Another important aspect to keep in mind is that the blocks\u00a0<strong>do not store account balances<\/strong>\u00a0or token\u00a0<strong>locations<\/strong>\u00a0or the status of\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-a-dapp\/\">dApps<\/a>\u00a0or any information stored by the\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-proof-of-work-the-bitcoin-consensus-protocol\/\">Proof of Work<\/a>\u00a0blockchain. On the other hand it is capable of storing the\u00a0<strong>list of validators<\/strong>, committee\u00a0<strong>votes<\/strong>\u00a0and the\u00a0<strong>statuses<\/strong>\u00a0of the so-called \u201cshards\u201d or fragments in Spanish.<\/p>\n<h2><\/h2>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div id=\"image_714444255\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img decoding=\"async\" class=\"attachment-large size-large lazyloaded\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/08\/%C2%BFQu%C3%A9-es-Beacon-Chain.jpeg\" sizes=\"(max-width: 768px) 100vw, 768px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/08\/\u00bfQu\u00e9-es-Beacon-Chain.jpeg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/08\/\u00bfQu\u00e9-es-Beacon-Chain-300x205.jpeg 300w\" alt=\"\u00bfQu\u00e9-es-Beacon-Chain?\" width=\"768\" height=\"526\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/08\/\u00bfQu\u00e9-es-Beacon-Chain.jpeg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/08\/\u00bfQu\u00e9-es-Beacon-Chain-300x205.jpeg 300w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/08\/\u00bfQu\u00e9-es-Beacon-Chain.jpeg\" data-sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/div>\n<\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2 class=\"p1\"><span class=\"ez-toc-section\" id=\"what_components_make_up_the_beacon_chain\"><\/span><b>What components make up the Beacon Chain?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"p1\">The Beacon Chain has countless\u00a0<strong>functions<\/strong>. Therefore, it is composed of various\u00a0<strong>tools<\/strong>\u00a0that help to carry out each task. Among these tools are:<\/p>\n<ul class=\"ul1\">\n<li class=\"li1\"><b>Block Proponents.<\/b>\u00a0While the Beacon Chain manages its own PoS protocol there are block proponents that are chosen randomly in order to prevent them from manipulating the blockchain data.<\/li>\n<li class=\"li1\"><b>Committees.\u00a0<\/b>Committees are made up of sets of validators called \u201cAttesters\u201d. These are chosen at random and vote on which blocks will be validated. The validators within each committee cast an up or down vote in a maximum time of 6.4 seconds. The Beacon Chain counts the votes per committee and validates the winning block.<\/li>\n<li class=\"li1\"><b>Randomness generator.<\/b>\u00a0The Beacon Chain is responsible for generating randomness throughout the system. To maintain it, a distributed, verifiable and indispensable source of randomness is needed.<\/li>\n<li class=\"li1\"><b>Rewards and penalties system<\/b>. This is another of the main functions of the Beacon Chain. This system works by tracking and updating validators\u2019 deposits.<\/li>\n<li class=\"li1\"><b>Cross-linking.<\/b>\u00a0When a block reaches a sufficient number of votes by a committee it can be added as a cross-link in a Beacon Chain block.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 3<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span>If you move in the world of\u00a0cryptocurrencies\u00a0you will know that there are countless projects capable of moving the world. Sometimes we only look at the top ten coins in terms of market capitalization, however, there are some projects worthy of being studied and known. That is why today we will tell you all about what\u00a0Beacon [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":7632,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[185],"tags":[],"class_list":["post-10563","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-en"],"_links":{"self":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/10563","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/comments?post=10563"}],"version-history":[{"count":0,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/10563\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media\/7632"}],"wp:attachment":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media?parent=10563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/categories?post=10563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/tags?post=10563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}