Beam Chain offers a new perspective on the Ethereum network consensus

EtherThe creators of the Beam Chain project have presented to the public a project for a large-scale upgrade of the consensus layer of the Ethereum blockchain. The main attention is paid to the redesign of the system. The data and execution layer (EVM) has been left unchanged. This is necessary to maintain compatibility with current applications. However, the new approach is aimed at solving accumulated technical problems and implementing modern technologies. One of the key reasons for the redesign was the “old age” of Beacon Chain, which was created 5 years ago. During this time, technologies and understanding of the network have changed significantly. For example, the perception of MEV (Maximum Extractable Value) has significantly deepened, and mechanisms have been developed to minimize its negative impact. The Beam Chain team plans to implement 9 key improvements, including accelerating slot times, reducing the minimum validator steak from 32 ETH to 1 ETH, and implementing finality for 1 slot. Zero-disclosure proof-of-concept technologies (ZKVM and SNARK), as well as cryptographic schemes that are resistant to quantum attacks, are proposed to improve security and performance. The

batch implementation of multiple changes simultaneously is considered a feature of the update, creating both technical and managerial benefits. This approach, known as “accelerated ocification,” aims to put Ethereum into long-term support mode, reducing future uncertainty.

Nevertheless, the project faces significant challenges. These include technical complexities, the risk of increasing vulnerabilities while implementing multiple updates at the same time, and the need to coordinate the work of different client teams. In addition, new technologies require lengthy testing, which can take several years. Beam Chain’s plan is ambitious. If implemented successfully, it could bring Ethereum blockchain to a new level of efficiency and security. However, it will require significant community involvement, quality coordination and deep testing of all innovations.

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Author: Saifedean Ammous, an expert in cryptocurrency economics.

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