Ethereum Foundation Researcher: The BeamSNARKs algorithm will help Ethereum transition to the 3.0 era by accelerating ZKP for BeamChain
On November 29, Ethereum Foundation researcher Justin Drake published a paper revealing details about the BeamSNARKs algorithm. BeamSNARKs is an enhanced ZK (Zero-Knowledge) algorithm that allows the prover to demonstrate the truth of their claims to the verifier without exposing underlying data or requiring interaction. For Ethereum, Moonchain's implementation of BeamSNARKs represents a transformative development in two key areas: privacy and scalability. In terms of privacy, BeamSNARKs enables transaction or computation verification without exposing sensitive data, thereby supporting confidential transactions and private smart contracts among other use cases. It is reported that Beam Chain is an indispensable consensus layer improvement for the era of Ethereum 3.0. This was part of a proposal by Justin Drake at DevCon to redesign Ethereum. It is expected that it will take several years for Ethereum to fully transition from PoS (Proof-of-Stake) era to ZK era, at which point Ethereum itself will have full ZK capabilities.
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