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In a major development for the Ethereum (ETH) ecosystem, researchers are proposing to redesign the network’s consensus layer, aiming to improve scalability, decentralization, and security.
During a presentation at DevCon in Bangkok on Tuesday, Justin Drake, a researcher from the Ethereum Foundation, introduced the concept of ‘Beam Chain’, a new consensus layer intended to replace the existing one. Beacon chain.
The beam chain proposal
Drake explained that the Beacon Chain, which has been operational for five years now, is somewhat outdated. “So much has happened in those five years,” he noted, highlighting the rapid progress in blockchain technology and research.
The redesign will reportedly focus solely on the consensus layer, leaving the Ethereum Virtual Machine (EVM) and the large object binary data layer (blob) untouched.
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In addition, the Beam Chain aims to innovate several critical aspects of Ethereum’s staking mechanism, blocking the 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 promote greater decentralization within the network.
Drake noted that the current Proof of Stake (PoS) issuance model is seen as flawed, which presents an opportunity for improvement that could benefit Ethereum’s long-term health.
To increase resistance to censorship, the proposal includes mechanisms for the separation of attestor and submitter, 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 ones transaction confirmations.
Plans to transform the future of Ethereum
A hallmark of the Beam Chain initiative is the integration of zero-knowledge (ZK) consensus, using Succinct Non-interactive Argument of Knowledge (SNARK) proofs.
These cryptographic tools will serve a dual purpose: enable consensus clients to compile high-level languages into bytecode and create a “hash-based post-quantum infinitely aggregable scheme” that can condense thousands of hashes into a single proof.
Recent developments suggest that users can prove more than 2 million hashes per second, indicating that the “SNARKification” of the consensus layer is even feasible on consumer-grade hardware.
Drake outlined that if the community supports the proposal, the next steps would include specification in 2025, development in 2026 and testing in 2027.
The researcher described this strategy as “ossification acceleration,” with the goal of achieving stability and maturity for Ethereum sooner or later. “We want Ethereum to go into ‘maintenance mode’ as soon as possible,” he stated.
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The proposal has generated significant interest within the Ethereum community, with Drake highlighting the importance of community participation in shaping the future of the consensus layer. He called the Beam Chain his “most ambitious initiative yet” and emphasized the need for collaboration to achieve this vision.
In an exclusive interview with NewsBTC, Professor Christian Cachin of the University of Bern praised the Beam Chain proposal for its potential to strengthen Ethereum’s consensus. roadmap.
Cachin noted that while the planned upgrades include advanced and non-backward compatible technologies, they are crucial for advancing Ethereum’s scalability and overall capabilities:
From what I see so far, the proposal makes the existing Ethereum consensus roadmap concrete, taking the next steps toward a more powerful and scalable Ethereum consensus.
At the time of writing, ETH was trading at $3,227, up 22% for the week.
Featured image of DALL-E, chart from TradingView.com
