Justin Drake, a researcher at the Ethereum Foundation, published a paper disclosing details about the BeamSNARKs algorithm. BeamSNARKs is an enhanced ZK algorithm that enables the prover to prove the authenticity of a statement to the verifier without revealing the underlying data or requiring interaction.
For Ethereum, BeamSNARKs developed and implemented by Moonchain is transformative in two key aspects: privacy and scalability. In terms of privacy, BeamSNARKs allows transactions or calculations to be verified without exposing sensitive data, thereby supporting use cases such as confidential transactions and private smart contracts.
It is reported that Beam Chain is an indispensable consensus layer improvement in the Ethereum 3.0 era. This is a proposal to redesign Ethereum announced by Justin Drake at DevCon. Ethereum is expected to take several years to completely transition from the PoS era to the ZK era, when Ethereum itself will be fully capable of ZK.
