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Justin Drake Unveils ‘The Beam Chain’: A Vision For Ethereum Final Design

In a significant development for the Ethereum (ETH) ecosystem, researchers propose redesigning the network’s consensus layer, aiming to enhance scalability, decentralization, and security. During a presentation at DevCon in Bangkok on Tuesday, Justin Drake, an Ethereum Foundation researcher, introduced the concept of “Beam Chain,” a new consensus layer intended to replace the existing Beacon Chain. The Beam Chain Proposal Drake explained that the Beacon Chain, which has been operational for five years, has become somewhat outdated. “In those five years, so much has happened,” he remarked, highlighting the rapid advancements in blockchain technology and research. The redesign will reportedly focus exclusively on the consensus layer, leaving the Ethereum Virtual Machine (EVM) and the binary large object (blob) data layer untouched. Related Reading: Shiba Inu Burn Rate Crashes 82% Despite Recovery, Can SHIB Price Still Make It To $0.00008 ATH? In addition, the Beam Chain aims to revamp several critical aspects of Ethereum’s staking mechanism, block production system, and cryptographic architecture. One of the central proposals is to reduce the validator bond from 32 ETH to just 1 ETH, a move intended to foster greater decentralization within the network. Drake noted that the current issuance model for Proof of Stake (PoS) is perceived as flawed, presenting an opportunity for improvement that could benefit Ethereum’s long-term health. To enhance censorship resistance, the proposal includes mechanisms for attestor-proposer separation, which would further secure the block production process. Additionally, the Beam Chain is designed to improve throughput by accelerating block time slots, ultimately leading to faster transaction confirmations. Plans To Transform Ethereum Future A hallmark of the Beam Chain initiative is its incorporation of zero-knowledge (ZK) consensus, which leverages Succinct Non-interactive Argument of Knowledge (SNARK) proofs. These cryptographic tools will serve dual purposes: enabling consensus clients to compile high-level languages into bytecode and creating a “hash-based post-quantum infinitely-aggregatable scheme” that can condense thousands of hashes into a single proof. Recent advancements suggest that users can prove over 2 million hashes per second, indicating that the “SNARKification” of the consensus layer is feasible even on consumer-grade hardware. Drake outlined that if the community supports the proposal, the next steps would involve specification in 2025, development in 2026, and testing in 2027. The researcher described this strategy as “ossification accelerationism,” aiming to achieve stability and maturity for Ethereum sooner rather than later. “We want Ethereum to go into ‘maintenance mode’ as soon as possible,” he stated. Related Reading: Bitcoin Price Prediction: Analyst Sets $320,000 Target As Wave 5 Begins The proposal has generated considerable interest within the Ethereum community, with Drake emphasizing the importance of community participation in shaping the future of the consensus layer. He referred to the Beam Chain as his “most ambitious initiative to date,” highlighting the need for collaboration to realize this vision. In an exclusive interview with NewsBTC, Professor Christian Cachin from the University of Bern commended the Beam Chain proposal for its potential to solidify Ethereum’s consensus roadmap. Cachin noted that while the planned upgrades involve sophisticated and non-backwards-compatible technologies, they are crucial for advancing Ethereum’s scalability and overall capabilities: As far as I see so far, the proposal makes the existing Ethereum consensus roadmap concrete, it takes the next steps toward more powerful and more scalable consensus of Ethereum. At the time of writing, ETH was trading at $3,227, up 22% for the week. Featured image from DALL-E, chart from TradingView.com CryptoIntelligence

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Analysis of DOGE’s Current Trading Phase Suggests Potential Resistance Levels and Market Movement

As volatility grips the cryptocurrency market, certain coins like DOGE witness significant price corrections, prompting discussions among investors and analysts alike. The recent market activity reflects a broader trend of CryptoIntelligence