Key Points:
At the Devcon 7 event in Bangkok, Thailand, Ethereum Foundation researcher Justin Drake unveiled a new consensus layer upgrade proposal called “Beam Chain,” which some have metaphorically described as “Ethereum 3.0.”
Drake said Beam Chain would target several of Ethereum’s current issues, including:
In an announcement preceding his keynote speech at Devcon, Justin Drake described this proposal as his “most ambitious initiative to date.”
If implemented, Drake’s proposal would be the biggest upgrade to Ethereum since The Merge.
The Merge was Ethereum’s major transition from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) consensus mechanism in September 2022, combining the Ethereum mainnet with the Beacon Chain. It reduced Ethereum’s energy consumption by over 99% and paved the way for future scalability improvements.
The Merge was initially referred to as part of “Ethereum 2.0,” but the community moved away from this term to avoid confusion. There were concerns that “Ethereum 2.0” implied a new blockchain, which was misleading. Dropping the term also helped prevent scams where users might think they needed to swap ETH for a non-existent “ETH2” token.
Referring to the change as “The Merge” provided a clearer, more accurate description and allowed each phase of Ethereum’s upgrade roadmap to be discussed independently.
The proposals within “Beam Chain” were mostly previously put forward by Ethereum’s “father” Vitalik Buterin in the network upgrade plan for the post-Merge era, shared in mid-October 2024.
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