Phase 0: Beacon Chain
Phase 0: beacon phase includes mainly checking the current Proof-of-Stake system, so the network will be mostly test-driven, while actual Ethereum tokens will be used. The following PoS aspects should become practical during this phase:
· Management of the stakeholder set
· Funds management of Stakeholders
· A generator for random numbers to pick producers of blocks and curators
· The involved parties (Stakeholders) shall vote on recommendations for block sizes;
· Distribution of fines and prizes
Phase 1: Sharding
The first move was to deploy an experimental network of 64 shards. Although Phase 0 is intended to test basic PoS infrastructure, Phase 1 is intended to test the fundamental sharding paradigm in the absence of substantial economic operation. The Beacon Chain, which existed on the 0th floor, and 64 new shards, will function parallel during this process. The Beacon Chain and all 64 shards will also have a two-way contact and connection system.
Phase 2: New operational mode implementation
Smart contracts are assumed to continue running on the network and business will continue at this time. Shards are no more raw data store than virtual computers and smart contracts from Ethereum 1.0. Phase 2 specifications are being produced.
Unilateral fixation
Two networks-Eth1 and Eth2 will run concurrently-after releasing of Ethereum 2.0. The conversion of Eth1 coins to Eth2 coins would initially be possible, but not vice versa, so Eth2 coins can theoretically be exchanged at a price less than or equal to the value of Eth1 coins. However, in the early stages of the transition, it is unlikely that Eth2 coins would be priced or exchange-supported at all since staking will be their only use. It would not be feasible for even simple transactions.
You must use the Eth1 Escrow Arrangement to convert Eth1 to Eth2. This Arrangement removes Eth1 coins which can then be used to validate the latest Eth2 coins. Coins are permanently burned even though a hard fork is used to restore coins due to a protocol update. The Eth2 coins are allocated to the validator pool immediately.
Source: forkast.news & Google
