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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 <a href="https://insidebitcoins.com/news/ethereum-price-prediction-as-justin-sun-cashes-out-61-million-eth-experts-say-this-meme-coin-staking-platform-might-20x" rel="noopener noreferrer nofollow">Ethereum</a> roadmap,” Drake said during a Nov. 12 appearance at Ethereum’s Devcon conference in Bangkok.
<img decoding="async" src="https://blockzeit.com/wp-content/uploads/2024/09/Ethereum.jpeg" alt="The Current Situation Of Ethereum – A Comprehensive Analysis">
<h2 id="span-style-font-weight-400-beam-chain-poised-to-be-ethereum-s-biggest-upgrade-since-the-merge-span">Beam Chain Poised To Be Ethereum’s Biggest Upgrade Since The Merge</h2>
“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,&nbsp; 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.&nbsp;
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 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. <a href="https://t.co/6xi3iSVwyp" rel="noopener noreferrer nofollow">pic.twitter.com/6xi3iSVwyp</a>
 — Yano 🟪 (@JasonYanowitz) <a href="https://twitter.com/JasonYanowitz/status/1856345616881693118?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 12, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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.
<h2 id="span-style-font-weight-400-ethereum-etfs-record-second-consecutive-day-of-inflows-span">Ethereum ETFs Record Second-Consecutive Day Of Inflows</h2>
The proposed redesign of Ethereum’s consensus layer by Drake was accompanied by a second consecutive day of inflows for US spot <a href="https://insidebitcoins.com/news/ethereum-etfs-see-record-inflows-as-altcoin-season-index-surges" rel="noopener noreferrer nofollow">Ethereum ETFs</a> (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 <a href="https://farside.co.uk/eth/" rel="noopener noreferrer nofollow">data</a> 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.
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Ethereum Foundation Researcher Proposes “Beam Chain” Upgrade, The Biggest Update Since The Merge

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