Cincinnati, Ohio, United States, 12th Dec 2024 - In his paper, Justin Drake introduced details about the BeamSNARKs algorithm, an advanced zero-knowledge (ZK) algorithm that allows a prover to demonstrate the truth of a statement to a verifier without disclosing the underlying data or requiring any interaction.
For this consensus layer evolution on Ethereum, Moonchain's implementation of BeamSNARKs is transformative in two significant ways: privacy and scalability. Regarding confidentiality, BeamSNARKs verifies transactions and calculations without revealing sensitive data. This capability supports applications such as confidential transactions and private smart contracts.
Beam Chain is a crucial improvement to the consensus layer for the Ether 3.0 era, a proposal to redesign Ethereum by Justin Drake at DevCon. The transition from the Proof of Stake (PoS) era to the zero-knowledge (ZK) era is expected to take several years, during which Ethereum fully integrates ZK capabilities.
Original link:
https://www.preprints.org/manuscript/202411.2216/v1
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