Ethereum Prepares for Major Upgrade Since The Merge

user avatar

by Giorgi Kostiuk

2 years ago

Ethereum Foundation researcher Justin Drake proposed a major redesign of the network's consensus layer called 'Beam Chain'.

Beam Chain Redesign: Proposal Details

During the Devcon conference in Bangkok, Justin Drake stated that the existing Beacon Chain is outdated and requires an update incorporating the latest ideas from the Ethereum roadmap. The update aims to accelerate block times, enhance post-quantum security, and reduce the minimum stake for validators from 32 ETH to 1.

Investment Moves Amid Proposals

The redesign proposal coincided with a second consecutive day of inflows into US spot Ethereum ETFs. Recently, $295.5 million were registered on Monday, followed by an additional $135.9 million on Tuesday, according to Farside Investors data.

Expectations and Challenges for the New Update

Drake mentioned that the redesign deployment requires community approval. The use of SNARK technology will address errors in the current Beacon Chain design. However, this process could take significant time due to implementation complexity and necessary approval.

The redesign of Ethereum's consensus layer promises significant improvements but requires serious preparation and community support.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

TON Validators Prepare for Configuration Vote on New Collator Architecture

chest

TON validators are updating their node software and mytonctrl tooling for a configuration vote on a new collator architecture scheduled for August 21 at 0800 UTC.

user avatarKofi Adjeman

Aave's EMode: Efficiency and Risk in DeFi Lending

chest

Aave's EMode feature allows for efficient borrowing among correlated assets but also increases the risk of liquidation during market stress.

user avatarSatoshi Nakamura

Avalanche Surpasses $3 Billion in Tokenized Real-World Assets

chest

Avalanche's tokenized real-world asset value has surpassed $3 billion, marking a significant milestone in its development as a platform for institutional finance.

user avatarNguyen Van Long

Aave's Debt Concentration Raises Concerns Amid Ethereum Volatility

chest

Aave's debt profile shows that a small number of loan positions account for a significant portion of its total outstanding debt, raising concerns about risk concentration.

user avatarJesper Sørensen

Shift in Airdrop Strategy Reflects Changing Market Dynamics

chest

Optimism's decision to reallocate tokens indicates a shift away from broad airdrops towards more strategic ecosystem investments.

user avatarLucas Weissmann

Optimism Governance Approves Reallocation of OP Tokens

chest

Optimism governance has approved the transfer of 5469 million OP tokens from user airdrop reserves to a Strategic Ecosystem Fund managed by the Optimism Foundation.

user avatarRajesh Kumar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.