ETH Foundation researcher: BeamSNARKs Algorithm will accelerate the transition of ETH to the 3.0 era by speeding up ZKP of BeamChain.

Golden Finance reported that Justin Drake, a researcher at the Ethereum Foundation, has released a paper revealing details about the BeamSNARKs Algorithm. BeamSNARKs is an enhanced ZK Algorithm that allows the prover to prove the veracity of a statement to validators without leaking underlying data or requiring interaction. For Ethereum, the BeamSNARKs developed by Moonchain has revolutionary implications in both privacy and scalability. In terms of privacy, BeamSNARKs allow for the verification of transactions or computations without exposing sensitive data, thereby supporting use cases such as Confidential Transaction and private Smart Contract. It is reported that Beam Chain is an essential consensus layer improvement for ETH 3.0. This is a proposal to redesign Ethereum announced by Justin Drake at DevCon. Ethereum is expected to take several years to fully transition from the PoS era to the ZK era, at which point Ethereum itself will be fully capable of ZK.