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Ethereum Mulls Major Consensus Layer Overhaul: What Beam Chain Entails

Ethereum Mulls Major Consensus Layer Overhaul: What Beam Chain Entails

DailycoinDailycoin2024/11/13 11:55
By:Dailycoin
  • Ethereum’s Justin Drake has proposed a major network overhaul.
  • The proposal, if accepted, promises to bolster scalability and security.
  • The proposal has elicited mixed reactions.

If Ethereum has shown anything over the years, it is not scared of making big changes. Two years after the network embarked on the Merge , the daring engineering feat of swapping out its Proof-of-Work (PoW) engine for Proof-of-Stake (PoS) , it is again considering another major overhaul.

Could this proposed overhaul be the sentiment boost the community desperately needs?

Ethereum’s Justin Drake Proposes Beam Chain

Ethereum consensus could be on the brink of a new era. 

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Speaking in a packed hall at the ongoing Ethereum Devcon conference in Bangkok on November 12, prominent Ethereum researcher Justin Drake proposed Beam Chain, an overhaul of Beacon Chain, Ethereum’s consensus layer, which handles things like staking and transaction processing, to bring the network much closer to its “final design.” 

Explaining the rationale for the proposal, Drake argued that Ethereum’s five-year-old Beacon Chain is simply old. As the researcher highlighted, several technological leaps have been made since Beacon Chain launched, leaving a lot of “technical debt.”

Interestingly, Beam Chain does not introduce anything radically new to the network’s existing roadmap but rather suggests a different approach to achieving the end goal.

As outlined by Drake, Ethereum’s Consensus roadmap includes block production, staking, and cryptography changes aimed at achieving faster block times, improved ETH issuance, promoting solo validation, and a significant shift to zero-knowledge technology, among other things.

Instead of trying to implement all of these changes in yearly incremental upgrades, Drake’s Beam Chain creates a subset of these upgrades to be accelerated and implemented holistically. This subset includes changes aimed at achieving faster slots, faster finality, a transition to zero-knowledge technology, and quantum computing resistance, all of which promise to improve scalability and security significantly.

Tipping the integration of ZK technology as the major component of Beam Chain, Drake asserted that the proposed consensus layer overhaul would launch Ethereum into its ZK era.

Despite Beam Chain’s many promises, it has elicited mixed responses from the Ethereum community.

Not Accelerated Enough?

While some have expressed significant excitement over Beam Chain’s potential to bolster Ethereum, others have been dissatisfied.

The dissatisfaction appears to stem from Justin Drake’s projected Beam Chain timeline. Specifically, the researcher predicts that Beam Chain will roll out around 2030, earmarking 2025 to build out the specifications, 2026 to start on production code, and 2027 through 2029 for testing.

“good tech but 2029-2030 delivery lol,” one user posted on X .

Similarly, Jiritsu Network Chief Strategy Officer Brian Johnson wrote :

“This isn’t an accelerated roadmap, and it makes me nervous for ETH.”

At the same time, CoinList co-founder Brian Tubergen joked :

“Will this ship before or after Elon reaches Mars?”

On the Flipside 

  • Beam Chain remains a proposal and would require community consensus before work can begin in earnest.
  • In the time Ethereum takes to achieve greater scalability with the Beam Chain, other already faster Layer 1 chains like Solana can also improve and gain an edge.
  • Developers are currently working on Pectra , Ethereum’s next major upgrade. This upgrade promises to improve wallet UX and data availability.

Why This Matters 

Justin Drake’s Beam Chain proposal offers a narrative for the Ethereum community to unite under after watching the ultrasound money narrative, which he propagated deflate in the wake of the Dencun upgrade.

Read this for more on Ethereum:
Ethereum Eyes $3K as Trump-Led Rally Boosts ETFs

Polygon’s (POL) AggLayer has gotten a native stablecoin. Find out more:
Polygon (POL) AggLayer Takes “Major Leap Forward” as AUSD Pledges Support

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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