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Home»Ethereum»Ethereum’s Beam Chain proposal promises streamlined staking and enhanced security
Ethereum

Ethereum’s Beam Chain proposal promises streamlined staking and enhanced security

November 15, 2024No Comments
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Justin Drake, a researcher at the Ethereum Foundation, presented a transformative proposal for a new consensus layer upgrade called “Beam Chain” during his presentation on November 12 at DevCon in Bangkok.

The Beam Chain is a complete overhaul of Ethereum’s consensus layer, which would bring the blockchain network closer to its final architecture.

Drake pointed out that the current Beacon Chain, which has been in place for five years, is outdated. During this period, research and technology have advanced significantly, opening new opportunities for improvement in critical areas, including MEV (maximum extractable value), the advancement of SNARK technologies, and the fight against technical debt.

Beam chain

Drake explained that his proposal builds on the progress made during this period and aims to bring Ethereum’s consensus layer up to date with the latest developments in blockchain technology.

Thus, the Beam Chain will prioritize faster finality and higher throughput, enabling faster transaction completion in three locations.

Staking requirements will also be reduced, allowing participants to stake with just 1 ETH instead of the current 32 ETH. This reduction will make Ethereum staking more accessible to a wider range of participants.

Additionally, Drake also outlined his intention to strengthen censorship resistance in block production by introducing a separation between attester and propounder.

On the cryptographic side, the proposal aims to “SNARKify” the consensus layer, thereby strengthening security and performance while preparing the network for future quantum threats.

Although the Beam Chain involves significant changes, Drake stressed that it would not alter the roadmap. Instead, it bundles various planned improvements into one comprehensive package. The goal is to eliminate technical debt from the pre-merger period and set the stage for substantial performance gains.

Thus, the Beam Chain will maintain the security of Ethereum and help improve the network.

If the Beam Chain receives enough support from the community, developers could begin writing specifications next year, followed by development in 2026 and testing in 2027 before it can be safely deployed to mainnet Ethereum.

Published in: Ethereum, Crypto



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