I am not a BLS expert. But this scheme seems to be pretty new and therefore could potentially contain bugs and exploits. Is there a way to recover from potential exploits in phase 0? How is security guarenteed?
You a totally correct. BLS is based on pairing security which is way less studied than algs based on Diffie-Hellman problem or RSA.
We all have to live with it for a while …
If BLS is exploited, an attacker could potentially steal funds in the beacon contract. Is that the risk you take as an early staker? Is there a bounty for finding an exploit between now and phase 0 launch?