I'm reading about Casper protocol and the hybrid solution that Ethereum is going to adopt in the first place. Can you tell me if I understand the mechanism well?
The hybrid solution initially provides both pow and pos. Starting from the Genesis block C_0, the notion of epoch is presented. Between two epochs the blocks are still mined with pow mechanism. Then, the epoch block is selected by pos algorithm where a set of validators "bet" and choose it. This choosing procedure is done as follows:
1) Validators lock some of their money in the network (The higher the quantity of money is locked by a validator, the greater his influence during the betting phase)
2) Validators choose the best block they believe it can be the next block in the blockchain, aware that if they choose a block containing invalid transactions, they will lose their money. To choose the block they partecipate in 2 phases:
Prepare ( I omit the details about its structure [prepare, hash, epoch, previous hash, previous epoch]), where validators choose the best block for them. When 2/3 of the validators (or better, 2/3 of the money locked) agree on a block, it comes the other phase;
Commit ( I omit as before its structure), where validators "confirm" this block. When 2/3 of the validators agree, the block is added at the blockchain.
( If a validator chooses a block with malicious transactions, or bet on more than one block, he loses their money. If a validator chooses a valid block but that block does not reach the 2/3 in the Prepare phase, he does not lose his money.)
3) After the epoch block has been selected, the miners start to mine other blocks until the next epoch block is reached and so on.
Is this procedure right? Did I get it right? Also, if I missed some details, please tell me :) Thank you all!