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Questions and Answers

What is the name of the consensus mechanism employed by Ethereum?

  • Proof-of-Stake (PoS)
  • Delegated Proof-of-Stake (DPoS)
  • Proof-of-Authority (PoA)
  • Proof-of-Work (PoW) (correct)

    • What was the memory requirement characteristic of Ethereum's PoW algorithm?

  • It had no memory requirement
  • It was memory hard, resisting miners' use of ASICs (correct)
  • It required specialized ASICs for mining
  • It was memory soft, allowing easy use of ASICs

    • What is the initial size of the Directed Acyclic Graph (DAG) used in Ethereum's Ethash algorithm?

  • 4 GB
  • 8 GB
  • 1 GB (correct)
  • 16 GB

    • What was the frequency of updating the Directed Acyclic Graph (DAG) in Ethereum's Ethash algorithm?

    <p>Once every 30,000 blocks (roughly 125 hours)</p> Signup and view all the answers

    What is the rule of thumb for achieving finality of a transaction on Ethereum?

    <p>6 blocks equal 1 minute</p> Signup and view all the answers

    What change occurred in September 2022 regarding Ethereum's mining?

    <p>Transition from PoW to PoS</p> Signup and view all the answers

    What is the purpose of Ommer (Uncle) Blocks on Ethereum?

    <p>To decrease centralization of incentives for large mining pools and increase network security</p> Signup and view all the answers

    What did Ethereum do to address high and unpredictable gas fees before EIP-1559?

    <p>Calculated transaction fees based on user bids</p> Signup and view all the answers

    What change occurred after EIP-1559 regarding gas fees in Ethereum?

    <p>Gas fees have a base fee and a tip, and the network burns all Ether tokens used to pay base fees, reducing the total supply of Ether</p> Signup and view all the answers

    What was the impact of the London upgrade on Ethereum's block creation reward?

    <p>Reduced the block creation reward</p> Signup and view all the answers

    What is the original Ethereum PoS blockchain introduced in 2020?

    <p>The Beacon Chain</p> Signup and view all the answers

    When did the merge from PoW to PoS occur in Ethereum?

    <p>September 2022</p> Signup and view all the answers

    What is the PoS mechanism of Ethereum that combines Casper FFG and LMD-GHOST fork choice algorithm?

    <p>Gasper</p> Signup and view all the answers

    What are the main participants of Ethereum PoS?

    <p>Validators, attestators (stakers), and block proposers</p> Signup and view all the answers

    What is the collateral amount that validators in Ethereum PoS must deposit?

    <p>32 Ether (ETH)</p> Signup and view all the answers

    What are the two components of an Ethereum PoS node?

    <p>Execution client and consensus client</p> Signup and view all the answers

    What are the four main steps of Ethereum PoS operation?

    <p>Block proposal, attestation, justification, and finality</p> Signup and view all the answers

    What is the deterministic inter-block time in Ethereum PoS?

    <p>12 seconds</p> Signup and view all the answers

    What does the execution client of an Ethereum PoS node handle?

    <p>Transaction submission and smart contract deployment</p> Signup and view all the answers

    What are the possible roles for validators in Ethereum PoS for each slot?

    <p>Block proposer and attestation committee member</p> Signup and view all the answers

    What does the Beacon Chain handle in Ethereum PoS?

    <p>Block gossip, consensus logic, rewards, and penalties</p> Signup and view all the answers

    What is the name of the PoS mechanism of Ethereum that combines Casper FFG and LMD-GHOST fork choice algorithm?

    <p>Gasper</p> Signup and view all the answers

    What was the memory requirement characteristic of Ethereum's Ethash algorithm?

    <p>It was memory hard, resisting miners' use of ASICs and having an increased memory requirement.</p> Signup and view all the answers

    What was the name of the PoW algorithm employed by Ethereum, different from Bitcoin's?

    <p>Ethash</p> Signup and view all the answers

    What was the initial size of the Directed Acyclic Graph (DAG) used in Ethereum's Ethash algorithm?

    <p>About 1 GB</p> Signup and view all the answers

    What was the frequency of updating the Directed Acyclic Graph (DAG) in Ethereum's Ethash algorithm?

    <p>Once every 30,000 blocks (roughly 125 hours)</p> Signup and view all the answers

    What is the rule of thumb for achieving finality of a transaction on Ethereum?

    <p>6 blocks equal 1 minute</p> Signup and view all the answers

    What was the average mining difficulty of Ethereum until September 2022?

    <p>Increasing</p> Signup and view all the answers

    What is the purpose of Ommer (Uncle) Blocks on Ethereum?

    <p>Create more ommer blocks, decrease centralization of incentives for large mining pools, and increase network security</p> Signup and view all the answers

    What did Ethereum do to address high and unpredictable gas fees before EIP-1559?

    <p>Transaction fees were calculated based on user bids</p> Signup and view all the answers

    What change occurred in September 2022 regarding Ethereum's mining?

    <p>Ethereum moved from PoW to PoS</p> Signup and view all the answers

    What is the impact of the London upgrade on Ethereum's block creation reward?

    <p>Part of every transaction fee being burned after the London upgrade</p> Signup and view all the answers

    What is the PoW reward for Ethereum's Ommer (Uncle) Blocks' miners?

    <p>1.75 Eth</p> Signup and view all the answers

    What are the economic incentives for Ethereum PoW miners?

    <p>Block mining reward, transaction fees, Ommer block mining reward, and Ommer block inclusion reward</p> Signup and view all the answers

    What is the major change in gas fees after EIP-1559?

    <p>Gas fees have a base fee and a tip, and the network burns all Ether tokens used to pay base fees</p> Signup and view all the answers

    What was the mechanism used in Ethereum's PoW to decrease centralization of incentives for large mining pools?

    <p>Letting ommer blocks happen to create more ommer blocks</p> Signup and view all the answers

    What was the primary characteristic of Ethereum's PoW algorithm before EIP-1559?

    <p>High and unpredictable gas fees</p> Signup and view all the answers

    What is the purpose of the Beacon Chain in Ethereum PoS?

    <p>Handling block gossip, consensus logic, rewards, and penalties</p> Signup and view all the answers

    What is the main function of the execution client in an Ethereum PoS node?

    <p>Handling transaction submission and smart contract deployment</p> Signup and view all the answers

    What is the main role of validators in Ethereum PoS?

    <p>Proposing blocks and participating in attestation committees</p> Signup and view all the answers

    What is the mechanism of Ethereum PoS that combines Casper FFG and LMD-GHOST fork choice algorithm?

    <p>Gasper</p> Signup and view all the answers

    What is the deterministic inter-block time in Ethereum PoS?

    <p>12 seconds</p> Signup and view all the answers

    What are the two components of an Ethereum PoS node?

    <p>Execution client and consensus client</p> Signup and view all the answers

    What is the primary function of consensus clients in Ethereum PoS?

    <p>Managing block gossip and attestations</p> Signup and view all the answers

    What are the main participants of Ethereum PoS?

    <p>Validators, attestators (stakers), and block proposers</p> Signup and view all the answers

    What is the role of validators in Ethereum PoS for each slot?

    <p>Block proposer and attestation committee member</p> Signup and view all the answers

    What is the time scale used in Ethereum PoS, consisting of 32 slots?

    <p>Epochs</p> Signup and view all the answers

    What is the collateral amount that validators in Ethereum PoS must deposit?

    <p>32 Ether (ETH)</p> Signup and view all the answers

    What occurred in September 2022 regarding Ethereum's transition from PoW to PoS?

    <p>The merge from PoW to PoS using the difficulty bomb</p> Signup and view all the answers

    What is the primary characteristic of Ethereum's Ethash algorithm?

    <p>It was resistant to ASIC mining due to increased memory requirement</p> Signup and view all the answers

    What was the initial size of the Directed Acyclic Graph (DAG) used in Ethereum's Ethash algorithm?

    <p>1 GB</p> Signup and view all the answers

    What was the purpose of the Ethereum PoW protocol Ommer (uncle) Blocks?

    <p>To include and reward valid blocks that were not included in the main chain</p> Signup and view all the answers

    What was the impact of Ethereum's Ethash algorithm on the use of ASICs for mining?

    <p>ASICs were eventually developed, but GPU mining was still viable until PoW switched off</p> Signup and view all the answers

    What does LMD GHOST stand for in the context of Ethereum's Proof of Stake?

    <p>Latest Message-Driven Greedy Heaviest-Observed Sub-Tree</p> Signup and view all the answers

    What is the purpose of a checkpoint or Epoch Boundary Block (EBB) in Ethereum's Proof of Stake?

    <p>To provide finality for blocks</p> Signup and view all the answers

    What is the role of validators in Ethereum's Proof of Stake?

    <p>Attesting for the previous head of the chain</p> Signup and view all the answers

    What is the consequence of a checkpoint garnering a supermajority of attestations in Ethereum's Proof of Stake?

    <p>The checkpoint is justified</p> Signup and view all the answers

    How are rewards for validators in Ethereum's Proof of Stake determined?

    <p>Based on their duties, stake, and the number of validators on the network</p> Signup and view all the answers

    What is the function of Casper FFG vote in Ethereum's Proof of Stake?

    <p>Involves validators voting for the checkpoint in their current and previous epoch</p> Signup and view all the answers

    What mechanism is used to determine the main chain in Ethereum's Proof of Stake when there is a fork?

    <p>LMD GHOST</p> Signup and view all the answers

    What is the typical finalization period for blocks in Ethereum's Proof of Stake?

    <p>Two epochs, equivalent to 12.8 minutes</p> Signup and view all the answers

    What happens if validators fail to participate or behave dishonestly in Ethereum's Proof of Stake?

    <p>They can face penalties and fines</p> Signup and view all the answers

    What is the impact of base fee burning and reduction of ETH rewards on Ethereum's supply?

    <p>It makes the supply not inflationary anymore</p> Signup and view all the answers

    How are validators rewarded for reporting conflicting votes or proposing multiple blocks in Ethereum's Proof of Stake?

    <p>They are rewarded</p> Signup and view all the answers

    How does LMD GHOST determine the main chain in Ethereum's Proof of Stake?

    <p>By following the heaviest subtree when there is a fork</p> Signup and view all the answers

    What is the main function of the execution client in an Ethereum PoS node?

    <p>Handling transaction submission and smart contract deployment</p> Signup and view all the answers

    What is the primary role of validators in Ethereum PoS for each slot?

    <p>Block proposer and attestation committee member</p> Signup and view all the answers

    What does the Beacon Chain handle in Ethereum PoS?

    <p>Block gossip, consensus logic, rewards, and penalties</p> Signup and view all the answers

    What is the purpose of Ommer (Uncle) Blocks on Ethereum?

    <p>To provide rewards to miners whose blocks are not included in the main chain</p> Signup and view all the answers

    What is the name of the PoS mechanism of Ethereum that combines Casper FFG and LMD-GHOST fork choice algorithm?

    <p>Gasper</p> Signup and view all the answers

    What are the two components of an Ethereum PoS node?

    <p>Execution client and consensus client</p> Signup and view all the answers

    What are the main participants of Ethereum PoS?

    <p>Validators, attestators (stakers), and block proposers</p> Signup and view all the answers

    What are the four main steps of Ethereum PoS operation?

    <p>Block proposal, attestation, justification, and finality</p> Signup and view all the answers

    What is the deterministic inter-block time in Ethereum PoS?

    <p>12 seconds</p> Signup and view all the answers

    What is the collateral amount that validators in Ethereum PoS must deposit?

    <p>32 Ether (ETH)</p> Signup and view all the answers

    What is the name of the consensus mechanism employed by Ethereum?

    <p>Proof of Stake (PoS)</p> Signup and view all the answers

    What was the mechanism used in Ethereum's PoW to decrease centralization of incentives for large mining pools?

    <p>The difficulty bomb</p> Signup and view all the answers

    What was the purpose of Ethereum's Ethash algorithm?

    <p>To resist miners' use of ASICs through increased memory requirement</p> Signup and view all the answers

    What was the impact of Ethash algorithm on miners' use of ASICs?

    <p>It initially resisted miners' use of ASICs, but ASICs were eventually developed</p> Signup and view all the answers

    What was the initial size of the Directed Acyclic Graph (DAG) used in Ethereum's Ethash algorithm?

    <p>About 1 GB</p> Signup and view all the answers

    What was the Ethereum PoW algorithm called?

    <p>Ethash</p> Signup and view all the answers

    What is the primary function of the Beacon Chain in Ethereum PoS?

    <p>Handling block gossip, consensus logic, rewards, and penalties</p> Signup and view all the answers

    What is the role of validators in Ethereum PoS for each slot?

    <p>Block proposer and attestation committee member</p> Signup and view all the answers

    What mechanism is used to determine the main chain in Ethereum's Proof of Stake when there is a fork?

    <p>Casper FFG and LMD-GHOST fork choice algorithm</p> Signup and view all the answers

    What is the time scale used in Ethereum PoS, consisting of 32 slots?

    <p>Epochs</p> Signup and view all the answers

    What is the purpose of Ommer (Uncle) Blocks on Ethereum?

    <p>To increase security by including orphaned blocks</p> Signup and view all the answers

    What are the main participants of Ethereum PoS?

    <p>Validators, attestators (stakers), and block proposers</p> Signup and view all the answers

    What are the four main steps of Ethereum PoS operation?

    <p>Block proposal, attestation, justification, and finality</p> Signup and view all the answers

    What is the collateral amount that validators in Ethereum PoS must deposit?

    <p>32 Ether (ETH)</p> Signup and view all the answers

    What is the name of the PoS mechanism of Ethereum that combines Casper FFG and LMD-GHOST fork choice algorithm?

    <p>Gasper</p> Signup and view all the answers

    What is the primary function of consensus clients in Ethereum PoS?

    <p>Managing block gossip and attestations</p> Signup and view all the answers

    What was the mechanism used in Ethereum's PoW to decrease centralization of incentives for large mining pools?

    <p>Ommer (Uncle) Blocks</p> Signup and view all the answers

    What is the main function of the execution client in an Ethereum PoS node?

    <p>Serving as a user gateway to Ethereum and housing the Ethereum Virtual Machine</p> Signup and view all the answers

    What is the purpose of Ommer (Uncle) Blocks on Ethereum?

    <p>To create more ommer blocks and decrease centralization of incentives for large mining pools</p> Signup and view all the answers

    What was the impact of the London upgrade on Ethereum's block creation reward?

    <p>Part of every transaction fee is burned after the London upgrade</p> Signup and view all the answers

    What was the primary function of consensus clients in Ethereum PoS?

    <p>To participate in the consensus algorithm</p> Signup and view all the answers

    What is the name of the PoS mechanism of Ethereum that combines Casper FFG and LMD-GHOST fork choice algorithm?

    <p>Casper FFG</p> Signup and view all the answers

    What is the impact of the PoW to PoS transition on Ethereum's hash rate?

    <p>Decreased the hash rate</p> Signup and view all the answers

    What was the mechanism used in Ethereum's PoW to decrease centralization of incentives for large mining pools?

    <p>Allowed ommer blocks to decrease centralization</p> Signup and view all the answers

    What is the function of Casper FFG vote in Ethereum's Proof of Stake?

    <p>To determine the main chain</p> Signup and view all the answers

    What was the name of the consensus mechanism employed by Ethereum before the transition to PoS?

    <p>Proof of Work (PoW)</p> Signup and view all the answers

    What was the initial size of the Directed Acyclic Graph (DAG) used in Ethereum's Ethash algorithm?

    <p>$2^{32}$</p> Signup and view all the answers

    What was the primary characteristic of Ethereum's PoW algorithm before EIP-1559?

    <p>Dynamic gas fees based on user bids</p> Signup and view all the answers

    What was the typical finalization period for blocks in Ethereum's Proof of Stake?

    <p>6 blocks</p> Signup and view all the answers

    What is the PoW reward for Ethereum's Ommer (Uncle) Blocks' miners?

    <p>1.75 Eth</p> Signup and view all the answers

    What is the rule of thumb for achieving finality of a transaction on Ethereum?

    <p>6 blocks equal 1 minute</p> Signup and view all the answers

    What was the average mining difficulty of Ethereum until September 2022?

    <p>Increased steadily</p> Signup and view all the answers

    What is the primary reason for Ethereum letting Ommer (Uncle) Blocks happen?

    <p>To decrease centralization of incentives for large mining pools and increase network security</p> Signup and view all the answers

    What was the mechanism used to determine transaction fees before EIP-1559?

    <p>Calculated based on user bids</p> Signup and view all the answers

    What is the impact of the London upgrade on Ethereum's block creation reward?

    <p>Decreased block creation reward</p> Signup and view all the answers

    What is the main reason for Ethereum's move from PoW to PoS in September 2022?

    <p>To reduce energy consumption</p> Signup and view all the answers

    What is the primary function of Ommer (Uncle) Blocks on Ethereum?

    <p>To decrease centralization of incentives for large mining pools and increase network security</p> Signup and view all the answers

    What was the economic incentive for Ethereum PoW miners before EIP-1559?

    <p>Block mining reward, transaction fees, and Ommer block rewards</p> Signup and view all the answers

    What change occurred in gas fees after EIP-1559?

    <p>Gas fees have a base fee and a tip, and the network burns all Ether tokens used to pay base fees</p> Signup and view all the answers

    What was the primary characteristic of Ethereum's PoW algorithm?

    <p>High memory requirement</p> Signup and view all the answers

    What was the primary reason for Ethereum's use of Ommer (Uncle) Blocks?

    <p>To decrease centralization of incentives for large mining pools and increase network security</p> Signup and view all the answers

    What is the purpose of a checkpoint or Epoch Boundary Block (EBB) in Ethereum's Proof of Stake?

    <p>To indicate the finality of blocks</p> Signup and view all the answers

    What is the consequence of a checkpoint garnering a supermajority of attestations in Ethereum's Proof of Stake?

    <p>The checkpoint becomes justified</p> Signup and view all the answers

    What is the main function of the execution client in an Ethereum PoS node?

    <p>Execution of smart contracts</p> Signup and view all the answers

    What is the impact of base fee burning and reduction of ETH rewards on Ethereum's supply?

    <p>It decreases the total supply of ETH</p> Signup and view all the answers

    What is the primary function of consensus clients in Ethereum PoS?

    <p>Validation of new blocks</p> Signup and view all the answers

    What is the role of validators in Ethereum PoS for each slot?

    <p>Validation of new blocks</p> Signup and view all the answers

    What does LMD GHOST stand for in the context of Ethereum's Proof of Stake?

    <p>Latest Message Driven Greediest Heaviest Observed SubTree</p> Signup and view all the answers

    What is the PoS mechanism of Ethereum that combines Casper FFG and LMD-GHOST fork choice algorithm?

    <p>Casper the Friendly Finality Gadget (Casper FFG)</p> Signup and view all the answers

    What are validators rewarded for in Ethereum's Proof of Stake?

    <p>Reporting conflicting votes</p> Signup and view all the answers

    What occurs when a checkpoint has garnered a supermajority of attestations in Ethereum's Proof of Stake?

    <p>The checkpoint becomes justified</p> Signup and view all the answers

    What is the typical finalization period for checkpoints in Ethereum's Proof of Stake?

    <p>12.8 minutes</p> Signup and view all the answers

    What is the function of Casper FFG vote in Ethereum's Proof of Stake?

    <p>To vote for the checkpoint in the current and previous epoch</p> Signup and view all the answers

    What is the purpose of a Casper FFG vote in Ethereum's Proof of Stake?

    <p>To vote for the checkpoint in the current and previous epoch</p> Signup and view all the answers

    How does LMD GHOST determine the main chain in Ethereum's Proof of Stake?

    <p>By following the heaviest subtree when there is a fork</p> Signup and view all the answers

    What is the consequence of a checkpoint garnering a supermajority of attestations in Ethereum's Proof of Stake?

    <p>The checkpoint becomes justified</p> Signup and view all the answers

    What are validators rewarded for in Ethereum's Proof of Stake?

    <p>Performing their duties and reporting conflicting votes</p> Signup and view all the answers

    What is the function of Checkpoints, or Epoch Boundary Blocks (EBB), in Ethereum's Proof of Stake?

    <p>Used for finality in Ethereum's PoS</p> Signup and view all the answers

    What happens when a checkpoint in Ethereum's Proof of Stake has garnered a supermajority of attestations and is justified?

    <p>The checkpoint becomes justified</p> Signup and view all the answers

    What is the main function of validators in Ethereum's Proof of Stake?

    <p>Attesting for the previous head of the chain if they do not receive the block from the expected proposer within 4 seconds</p> Signup and view all the answers

    What is the typical finalization period for blocks in Ethereum's Proof of Stake?

    <p>Two epochs, equivalent to 12.8 minutes</p> Signup and view all the answers

    What are validators rewarded for reporting in Ethereum's Proof of Stake?

    <p>Conflicting votes or proposing multiple blocks</p> Signup and view all the answers

    What is the primary characteristic of Checkpoints, or Epoch Boundary Blocks (EBB), in Ethereum's Proof of Stake?

    <p>Used for finality in Ethereum's PoS</p> Signup and view all the answers

    What determines the main chain in Ethereum's Proof of Stake using the LMD GHOST fork choice algorithm?

    <p>Following the heaviest subtree when there is a fork</p> Signup and view all the answers

    Study Notes

    Ethereum PoS Implementation and Mechanisms

    • Ethereum will see a 5% reduction in energy consumption with the implementation of Phase 2 Stake withdrawal in April 2023.
    • The Beacon Chain, introduced in 2020, is the original Ethereum PoS blockchain and handles block gossip, consensus logic, rewards, and penalties.
    • The merge from PoW to PoS occurred in September 2022, using the difficulty bomb to stop PoW mining and transition towards PoS.
    • Gasper is the PoS mechanism of Ethereum, combining Casper FFG and LMD-GHOST fork choice algorithm.
    • An Ethereum PoS node consists of an execution client and a consensus client, with validators being the only nodes containing both components.
    • Execution clients handle transaction submission and smart contract deployment, while consensus clients manage block gossip and attestations.
    • The execution client serves as a user gateway to Ethereum and houses the Ethereum Virtual Machine, state, and transaction pool.
    • The main participants of Ethereum PoS are validators, attestators (stakers), and block proposers.
    • Ethereum PoS operates through four main steps: block proposal, attestation, justification, and finality.
    • Validators in Ethereum PoS must deposit 32 Ether (ETH) as collateral and are incentivized with ETH-denominated rewards for correct behavior.
    • Ethereum PoS works on two-time scales: epochs (32 slots) and slots (12 seconds each), with a deterministic inter-block time of 12 seconds.
    • Validators in Ethereum PoS have two possible roles for each slot: block proposer and attestation committee member, with a pseudo-random distributed algorithm assigning roles.

    Ethereum PoS Implementation and Mechanisms

    • Ethereum will see a 5% reduction in energy consumption with the implementation of Phase 2 Stake withdrawal in April 2023.
    • The Beacon Chain, introduced in 2020, is the original Ethereum PoS blockchain and handles block gossip, consensus logic, rewards, and penalties.
    • The merge from PoW to PoS occurred in September 2022, using the difficulty bomb to stop PoW mining and transition towards PoS.
    • Gasper is the PoS mechanism of Ethereum, combining Casper FFG and LMD-GHOST fork choice algorithm.
    • An Ethereum PoS node consists of an execution client and a consensus client, with validators being the only nodes containing both components.
    • Execution clients handle transaction submission and smart contract deployment, while consensus clients manage block gossip and attestations.
    • The execution client serves as a user gateway to Ethereum and houses the Ethereum Virtual Machine, state, and transaction pool.
    • The main participants of Ethereum PoS are validators, attestators (stakers), and block proposers.
    • Ethereum PoS operates through four main steps: block proposal, attestation, justification, and finality.
    • Validators in Ethereum PoS must deposit 32 Ether (ETH) as collateral and are incentivized with ETH-denominated rewards for correct behavior.
    • Ethereum PoS works on two-time scales: epochs (32 slots) and slots (12 seconds each), with a deterministic inter-block time of 12 seconds.
    • Validators in Ethereum PoS have two possible roles for each slot: block proposer and attestation committee member, with a pseudo-random distributed algorithm assigning roles.

    Ethereum PoS Implementation and Mechanisms

    • Ethereum will see a 5% reduction in energy consumption with the implementation of Phase 2 Stake withdrawal in April 2023.
    • The Beacon Chain, introduced in 2020, is the original Ethereum PoS blockchain and handles block gossip, consensus logic, rewards, and penalties.
    • The merge from PoW to PoS occurred in September 2022, using the difficulty bomb to stop PoW mining and transition towards PoS.
    • Gasper is the PoS mechanism of Ethereum, combining Casper FFG and LMD-GHOST fork choice algorithm.
    • An Ethereum PoS node consists of an execution client and a consensus client, with validators being the only nodes containing both components.
    • Execution clients handle transaction submission and smart contract deployment, while consensus clients manage block gossip and attestations.
    • The execution client serves as a user gateway to Ethereum and houses the Ethereum Virtual Machine, state, and transaction pool.
    • The main participants of Ethereum PoS are validators, attestators (stakers), and block proposers.
    • Ethereum PoS operates through four main steps: block proposal, attestation, justification, and finality.
    • Validators in Ethereum PoS must deposit 32 Ether (ETH) as collateral and are incentivized with ETH-denominated rewards for correct behavior.
    • Ethereum PoS works on two-time scales: epochs (32 slots) and slots (12 seconds each), with a deterministic inter-block time of 12 seconds.
    • Validators in Ethereum PoS have two possible roles for each slot: block proposer and attestation committee member, with a pseudo-random distributed algorithm assigning roles.

    Understanding the LMD GHOST Algorithm and Ethereum Proof of Stake (PoS)

    • Validators start attesting for the previous head of the chain if they do not receive the block from the expected proposer within 4 seconds.
    • An attestation is a validator's vote, weighted by the validator's balance, and is broadcast in addition to blocks.
    • Validators determine the main chain using the LMD GHOST fork choice algorithm, which is the PoS Ethereum fork choice rule.
    • LMD GHOST determines the main chain by following the heaviest subtree when there is a fork.
    • Checkpoints, or Epoch Boundary Blocks (EBB), are blocks in the first slot of an epoch and are used for finality in Ethereum's PoS.
    • Casper FFG vote involves validators voting for the checkpoint in their current and previous epoch, known as target and source, respectively.
    • Finalization occurs when a checkpoint has garnered a supermajority of attestations and is justified, and the checkpoint in the immediate next epoch becomes justified.
    • In Ethereum's PoS, checkpoints are used to indicate the finality of blocks, with a typical finalization period of two epochs, equivalent to 12.8 minutes.
    • Validators receive rewards in ETH based on the duties they perform, their stake, and the number of validators on the network.
    • Validators can face penalties and fines for failing to participate, behaving dishonestly, or submitting contradictory attestations.
    • Validators police each other and are rewarded for reporting conflicting votes or proposing multiple blocks.
    • Ethereum's supply is not inflationary anymore due to base fee burning and the reduction of ETH rewards.

    Understanding the LMD GHOST Algorithm and Ethereum Proof of Stake (PoS)

    • Validators start attesting for the previous head of the chain if they do not receive the block from the expected proposer within 4 seconds.
    • An attestation is a validator's vote, weighted by the validator's balance, and is broadcast in addition to blocks.
    • Validators determine the main chain using the LMD GHOST fork choice algorithm, which is the PoS Ethereum fork choice rule.
    • LMD GHOST determines the main chain by following the heaviest subtree when there is a fork.
    • Checkpoints, or Epoch Boundary Blocks (EBB), are blocks in the first slot of an epoch and are used for finality in Ethereum's PoS.
    • Casper FFG vote involves validators voting for the checkpoint in their current and previous epoch, known as target and source, respectively.
    • Finalization occurs when a checkpoint has garnered a supermajority of attestations and is justified, and the checkpoint in the immediate next epoch becomes justified.
    • In Ethereum's PoS, checkpoints are used to indicate the finality of blocks, with a typical finalization period of two epochs, equivalent to 12.8 minutes.
    • Validators receive rewards in ETH based on the duties they perform, their stake, and the number of validators on the network.
    • Validators can face penalties and fines for failing to participate, behaving dishonestly, or submitting contradictory attestations.
    • Validators police each other and are rewarded for reporting conflicting votes or proposing multiple blocks.
    • Ethereum's supply is not inflationary anymore due to base fee burning and the reduction of ETH rewards.

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