Ethereum (ETH) is constantly evolving and the Beam Chain promises to be one of the major changes for the blockchain. What will be new? When are they planned? We take stock.
Justin Drake presents the future Beam Chain of Ethereum (ETH)
As part of Ethereum (ETH) Devcon 7 in BangkokEthereum Foundation researcher Justin Drake presented the Beam Chain, a major update for the future of the network.
Today, the Ethereum blockchain relies on an execution layer as well as a consensus layer. The latter, the Beacon Chain, is now 5 years old, after being launched during the introduction of Proof-of-Stake on Ethereum. As Justin Drake pointed out, the crypto ecosystem has since evolved greatly:
The Beacon Chain is quite old. The spec was frozen five years ago, and in those five years so much has happened.
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Among the major changes, let us note in particular increased speed. To date, 12 seconds are needed to produce a block on Ethereum and this is definitively recorded in history after an epoch of 32 slots on the Beacon Chain, or 32 blocks.
On average, it takes 6 to 7 minutes to make a block completely immutable on Ethereum. With the Beacon Chain, more than 3 slots would be needed, while a block would be produced in 4 seconds, which could reduce this time for the finality of a block to 12 seconds.
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Other improvements are also on the agenda, including the introduction of SNARK zero-knowledge proofs (ZKP) directly on layer 1, where these functionalities are currently only present on certain layer 2 of the network:
– Faster blocktimes! 4 second blocks
– 3 slot finality
– SNARK the chain!
– upgrade for quantum resistanceGreen – were leaving in the main roadmap
Red – The Beam chain upgrade – we do this all at once pic.twitter.com/k1z8Qk13Gw— Brother DavidHoffman.eth 🦇🔊 (@TrustlessState) November 12, 2024
Of course, there is still a long way to go before getting rid of this “technical debt”, to use the words of Justin Drake. We saw it with the transition to stakingthe roadmap has evolved along the way, given the importance of the changes.
For the moment, the year 2027 is envisaged for the first deployments on testnets, but we know from experience that it could be longer. Therefore, it will be appropriate to provide regular updates on the progress of the work, as the future of the Beam Chain becomes clearer.
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In the meantime, ETH shows a price of $3,260 and a slight decline of 0.7% in 24 hours, after an increase of 33.5% over 7 days.
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Since 2021, I have devoted my free time to seriously educating myself on cryptocurrencies in order to acquire maximum knowledge and credibility. I often have the opportunity to conduct interviews with influential figures in the blockchain industry. I also conduct in-depth analyzes on Web3 themes to offer exclusive content to Cryptoast readers.
Vincent Maire
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