Crypto Market suddenly fascinated as Ethereum researcher Justin Drake introduced a proposal to overhaul Ethereum’s consensus layer, called the “Beam Chain.” During his speech on Devcon, Bangkok Justin showcase his proposal.
Ethereum’s Beam Chain is part of Ethereum’s long-term roadmap, aimed at improving network scalability and performance without launching a new network. It builds on Ethereum’s current infrastructure, enhancing transaction speed, security, and efficiency.
What's Changing
🔺 Increased Block Production
Higher throughput: Beam aims to increase Ethereum’s transaction capacity by improving block production.
Censorship Resistance: The introduction of FOCIL (Fork-Choice Enforced Inclusion Lists) enhances resistance to censorship, ensuring that transactions can’t easily be excluded by malicious actors.
Execution Auctions & Isolated Validators: Validators will be isolated using execution auctions, which ensures more robust performance and decentralization.
Faster Finality: Ethereum will feature 3-slot finality and 4-second block times for quicker transaction confirmation and improved network efficiency.
🔺 Enhanced Staking
Improved Issuance: This includes changes to the reward issuance model for validators, making staking more rewarding.
Lower Staking Requirements: Validators will only need to stake 1 ETH, down from the current 32 ETH required, making staking more accessible.
🔺 Advanced Security
Post-Quantum Cryptography: Ethereum will implement quantum-resistant cryptography to ensure the network remains secure against future threats from quantum computing.
zkSNARK and zkVM Integration: Zero-Knowledge Proofs (ZKPs) will be integrated with Ethereum through zkSNARKs and zkVM (zkVirtual Machine) to further improve privacy, scalability, and security.
Chain SNARK-ification: Ethereum will leverage RISC-V for Chain SNARK-ification, a process that improves the efficiency and scalability of proof generation.
Enhanced Randomness: Ethereum will also introduce robust randomness features to ensure fairness in validator selection and other critical network processes.
How It Works
Sharding for Faster Processing: Ethereum’s Beam Chain will use sharding, which divides data into smaller pieces (shards) to process multiple transactions simultaneously. This reduces bottlenecks and speeds up transaction times.
Quantum-Safe Security: Ethereum will utilize advanced cryptographic techniques to ensure that even supercomputers of the future cannot break the network's security.
Integration with Ethereum’s Roadmap: Beam is not a separate network, but an integrated phase of Ethereum’s roadmap for scaling and improving security over the next 5-10 years.
Why This Matters
Beam Chain is crucial for Ethereum’s ability to handle growing decentralized applications. It enhances Ethereum’s scalability, reduces transaction costs, and improves overall security, allowing the network to support more users and complex applications over time.
🅃🄴🄲🄷🄰🄽🄳🅃🄸🄿🅂123