Ethereum developer Justin Drake said his comprehensive proposal to overhaul the second-largest blockchain’s consensus layer isn’t about catching up with a rival, it’s about sticking around for the long haul.

Drake unveiled the proposal, known as the Beam Chain, at Ethereum’s biennial Devcon gathering in Bangkok last month, at a time when the network’s native token ETH is lagging behind its counterparts at other major layer-1 blockchains.

The Ethereum network enjoyed wide adoption over the last few years, making it more expensive and slower to use. In response, a cohort of layer-1s, known as “Ethereum killers,” emerged in 2020 to compete with Ethereum on transaction speeds, and Solana has been seen as the leader of the pack.

Recently, activity on Solana has exploded, mainly thanks to the surge of memecoins on the blockchain, with users wondering whether it will overtake Ethereum as the “hot” chain.

But Drake said he do

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Author: Margaux Nijkerk