Join Our Telegram channel to stay up to date on breaking news coverage
Ethereum Foundation researcher Justin Drake has proposed a major redesign of Ethereum’s consensus layer called “Beam Chain,” which will be the network’s biggest update since The Merge.
This upgrade will bring a “redesign of the consensus layer that incorporates all of the latest and greatest ideas from the Ethereum roadmap,” Drake said during a Nov. 12 appearance at Ethereum’s Devcon conference in Bangkok.
Beam Chain Poised To Be Ethereum’s Biggest Upgrade Since The Merge
“The beacon chain is kind of old,” Drake said during his speech at the conference, adding that “the spec was frozen five years ago.”
Since then, Drake says Ethereum developers have developed a “much better understanding” of how to adapt to maximal extractable value strategies employed by sophisticated traders, which sometimes impact Ethereum’s users.
He subsequently believes that it is time for an upgrade to Ethereum’s consensus layer. Drake added that Beam Chain would unlock faster block times, make Ethereum post-quantum secure, set staking caps as well as reduce the minimum stake for validators on the network from 32 ETH to 1.
I am sorry but does this actually say Ethereum 3.0 ships in 2029
Nothing ships on time so realistically it'll be 2031
THAT IS 7 YEARS FROM NOW
And that's just to improve the consensus layer (not DA nor the EVM)
That is actual insanity. Go ship a damn product. pic.twitter.com/6xi3iSVwyp
— Yano 🟪 (@JasonYanowitz) November 12, 2024
The proposed redesign will also rely heavily on SNARKs and address a few of the mistakes made in Ethereum’s current Beacon Chain consensus layer’s design. Drake went on to say that the proposed redesign will only be deployed once it gets the go-ahead from the community.
Ethereum ETFs Record Second-Consecutive Day Of Inflows
The proposed redesign of Ethereum’s consensus layer by Drake was accompanied by a second consecutive day of inflows for US spot Ethereum ETFs (exchange-traded funds) yesterday. After registering net inflows of $295.5 million on Monday, investors added another $135.9 million to the funds on Nov. 12, according to data from Farside Investors.
BlackRock’s ETHA maintained its dominance with $131.4 million inflows on the day, pushing its cumulative reserves to over $1.67 billion. Conversely, Grayscale’s ETHE resumed its outflow streak after a 5-day pause, with investors pulling out $33.2 million from the fund.
Related Articles:
- Best Wallet Sells Out Within Hours, Raising $162K On Presale Launch
- BlackRock Bitcoin ETF Hits New Record As Polymarket Odds Of Bitcoin Hitting $100K This Year Soar
- Dogecoin Price Prediction: DOGE Surges 12% After Trump Names Elon Musk To Head New Department Of Government Efficiency As Traders Flock To This PolitiFi ICO For 10X Gains
Most Searched Crypto Launch - Pepe Unchained
- Layer 2 Meme Coin Ecosystem
- Featured in Cointelegraph
- SolidProof & Coinsult Audited
- Staking Rewards - pepeunchained.com
- $10+ Million Raised at ICO - Ends Soon
Join Our Telegram channel to stay up to date on breaking news coverage