So Ethereum is making big changes to solve the scalability problem and therefore they need Ethereum validator. So they introduced a lot of different solution to this problem. An Ethereum Validator is one of the key components for these solutions.
What is a Ethereum Validator?
So Ethereum is trying to solve the proof of work problem. Therefore they implemented the beacon chain that runs parallel to the Ethereum blockchain. It sits between the main chain and the shards. So it works like a connective tissue providing a heartbeat. Thus, the beacon chain uses the proof of stake protocol and to validate transaction they need the so-called Ethereum validators.
What do you need to be an Ethereum Validator?
So if you want to be an Ethereum validator you need to be able to send 32 Ether into the deposit contract. So every transaction that is depositing has to contain 32 Ether. You also need a specific pub key and a specific withdrawal address. So you will have a pub key for Ethereum and then you have another pub key that you use for withdrawing. As a result, you can participate in the proof of stake chain.
What does a Validator do?
Every Ethereum validator has to pick a seed and create a so-called hash onion. So they have to keep hashing and hashing. As a result, the hash onion grows with every layer that gets hashed. When a validator has hashed enough times the outer layer represents the commitment.
So when you want to unpeel the layers of the onion you are revealing a pre-image. And this pre-image will match the previous commitment. So you get a chain of pre-images and commitments. This looks like a random beacon of itself. As a result, every validator has his own local random beacon. So the idea of a beacon chain is to combine these local beacons into a global one.
The tasks of an Ethereum Validator
The SMC is the place in the main chain which keeps track of the valid data pool. In this pool are validators, who have made a third of the deposit and made a commitment for the beacon chain. So as a validator, you will be called upon on the randomized basis on the random schedule to perform various tests.
Thus, you can be called upon as a proposer to extend the shards with new data. You can also be a notary. You then have to download the data and attest it. Then you check if they are available and signed off on this claim. Or you are a meta notary. You then have to take checkpoints of the shards and reincorporate them into the main chain.
Ethereum Validator – Summarized:
- Ethereum Validators work on the proof of stake chain
- They need 32 Ether, a pub key and a specific withdrawal address
- So the validator will be randomly called on a random schedule to perform various tests
- They have to extend shards, attest the latest data or work as a notary
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