Latest / The Paul Barron Crypto Show / Massive Ethereum Upgrades Coming Sooner?🚀 Beam Revealed🔥

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Massive Ethereum Upgrades Coming Sooner?🚀 Beam Revealed🔥 · The Paul Barron Crypto Show

• 0:00
  Speaker 1: Eith is finally on the move, and today we may
• 0:08
  Speaker 1: have a good indicator as to why this might be happening.
• 0:10
  Speaker 1: We'll break it down for you. My name is small Baron.
• 0:12
  Speaker 1: Welcome back into tech path. Let's go into it today.
• 0:15
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  Speaker 1: be practicing these kinds of methods out there as things
• 1:01
  Speaker 1: start to heat up in this market.
• 1:03
  Speaker 2: Now.
• 1:03
  Speaker 1: One of the things that's heating up right now is Ethereum.
• 1:06
  Speaker 1: Look at this right now, record net inflows in e ETFs.
• 1:10
  Speaker 1: And remember back here since the launch. This was back
• 1:13
  Speaker 1: where we saw a lot of liquidations coming out of greyscale,
• 1:16
  Speaker 1: So technically, well not even technically, this is the biggest
• 1:20
  Speaker 1: inflow day by far for Ethereum since the launch, So
• 1:24
  Speaker 1: huge scenarios playing out. I think a lot of people
• 1:28
  Speaker 1: have been concerned about Ethereum being done, it's never going
• 1:32
  Speaker 1: to move again, all that kind of naysaying that people
• 1:34
  Speaker 1: have been talking about, and clearly E started rocking up
• 1:38
  Speaker 1: the charts just in the last week, so big gains,
• 1:41
  Speaker 1: in fact, greater gains i think really than what we
• 1:44
  Speaker 1: saw at Bitcoin. This is the other thing that's playing
• 1:46
  Speaker 1: out in this is just in general validators. Look at this.
• 1:49
  Speaker 1: I mean, we are starting to see now over a
• 1:51
  Speaker 1: million validators by far the most secure network out there
• 1:55
  Speaker 1: when it comes to blockchain, which is why you see
• 1:58
  Speaker 1: major companies like black Rock, Securitize and a lot of
• 2:02
  Speaker 1: others starting to move in this direction. In terms of
• 2:05
  Speaker 1: things like us what we're seeing around world, world assets.
• 2:09
  Speaker 1: So a lot happening for eth in general. I'm going
• 2:12
  Speaker 1: to play a lot of clips for you guys because
• 2:13
  Speaker 1: I want to go into what happened at DevCon and
• 2:16
  Speaker 1: it's very important because you need to understand what is
• 2:19
  Speaker 1: going on with Ethereum right now that could be making
• 2:22
  Speaker 1: some pretty big changes. Take a look at this first one.
• 2:25
  Speaker 3: Ethereum is above all and evolving ecosystem. Ethereum is a
• 2:29
  Speaker 3: lot of things.
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  Speaker 2: Right.
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  Speaker 3: Layer one is the trust machine and layer two is
• 2:35
  Speaker 3: the GPU.
• 2:36
  Speaker 2: Right.
• 2:36
  Speaker 3: Layer one is the reason why layer twos are able
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  Speaker 3: to trustlessly talk to each other. Even if you're lawyer
• 2:43
  Speaker 3: two gets fifty one percent attack, Layer one is still
• 2:46
  Speaker 3: stands there to protect the users. Recently, there was a
• 2:49
  Speaker 3: live experiment of this soda DXV three I believe shut down. Recently.
• 2:55
  Speaker 3: Users are able to take any assets that they have
• 2:58
  Speaker 3: inside of dodx thre three and bring it back down
• 3:02
  Speaker 3: to the Ethereum L one. So is not just theory,
• 3:05
  Speaker 3: it is reality. What happens if there is a bug
• 3:09
  Speaker 3: in any Ethereum client, like literally today right now, okay, Josh,
• 3:14
  Speaker 3: can you check this Ethereum still running bet like ninety
• 3:17
  Speaker 3: nine point nine nine percent plus on poly market. Okay,
• 3:20
  Speaker 3: here is one thing, one property that actually has gotten
• 3:24
  Speaker 3: a lot better. When you have an ecosystem that is
• 3:26
  Speaker 3: dominated by one client, that itself becomes a central point
• 3:30
  Speaker 3: of failure. And this is something that as of twenty
• 3:34
  Speaker 3: twenty four is probably at the best that it's ever
• 3:37
  Speaker 3: been in Ethereum's history. So no other chain has really
• 3:42
  Speaker 3: gotten to achieve anything close to this, even outside of Ethereum,
• 3:45
  Speaker 3: like even web browsers, so.
• 3:47
  Speaker 1: You know, metallic there getting into where Ethereum is going.
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  Speaker 1: The main thing is obviously the security. That's the major layer,
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  Speaker 1: and when you're growing a technology like blockchain, this is
• 3:57
  Speaker 1: very very important, especially when you look at a lot
• 4:00
  Speaker 1: of companies and major industries that could be going in
• 4:02
  Speaker 1: for adoption. He also goes on in this next clip
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  Speaker 1: to talk about why it's slow to change, but when
• 4:08
  Speaker 1: it does change, this is what happens. Take a look.
• 4:12
  Speaker 3: Ethereum has improved massively. L two's provides speed and scale,
• 4:17
  Speaker 3: So this year LAER two fees have gone down from
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  Speaker 3: about fifty cents to less than one cent. Ethereum has
• 4:23
  Speaker 3: overnight gone from being basically unaffordable to being completely affordable.
• 4:28
  Speaker 3: The Bitcoin average walk time ten minutes. Often you have
• 4:31
  Speaker 3: to wait up to one hour. Post merge basically goes
• 4:34
  Speaker 3: down to like about six to thirty seconds. And then finally,
• 4:37
  Speaker 3: with layer twos, you have pre confirmations and you have
• 4:40
  Speaker 3: layer twos that are fast enough to just confirm your
• 4:42
  Speaker 3: transaction within a couple hundred milliseconds. You can also run
• 4:46
  Speaker 3: an ethereum node and you could verify the chain, and
• 4:48
  Speaker 3: once we start the whole chain, you will be able
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  Speaker 3: to verify the Ethereum rules on extremely tiny hardware. Also,
• 4:58
  Speaker 3: taking with less ether thirty two eighth, it's still high,
• 5:02
  Speaker 3: and you know it's even higher than it was two
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  Speaker 3: weeks ago. But my okay, I would like for people
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  Speaker 3: to be stakers with one ETH. And also I expect
• 5:15
  Speaker 3: progressive upgrades, cautious upgrades, but still progressive and definitely ongoing upgrades.
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  Speaker 3: Something that is slow to change.
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  Speaker 1: Right when they do make changes these major initiatives, I mean,
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  Speaker 1: can you imagine staking with one eth That would be
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  Speaker 1: a significant change in the ETH ecosystem. And also I
• 5:32
  Speaker 1: think it bringing a lot more people in. You look
• 5:33
  Speaker 1: at transactions, people are already coming in as it is, right,
• 5:37
  Speaker 1: there are a million transactions on the day. This is
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  Speaker 1: just as November fourth. You look at Bitcoin right here,
• 5:42
  Speaker 1: barely going into half of that, So again it is
• 5:45
  Speaker 1: the winner in terms of transaction. What Battallic was talking
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  Speaker 1: about there there are some changes I think that could
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  Speaker 1: be brewing here that are going to be very beneficial
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  Speaker 1: for ETH and all the ETH holders. Also, another things
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  Speaker 1: that they announced here is beam change. This is kind
• 5:59
  Speaker 1: of the in game proposal for an Ether consensus layer.
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  Speaker 1: They go on in a few discussion points around this
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  Speaker 1: event to talk about what this really means. There's some
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  Speaker 1: big changes here. Go I want you guys to listen
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  Speaker 1: in this first one is where he talks about how
• 6:13
  Speaker 1: the upgrade is going to happen. Take a look.
• 6:16
  Speaker 4: So, the beamchain is a proposed redesign of the consensus layer,
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  Speaker 4: and the proposal will only go forward if there is
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  Speaker 4: rough consensus with it going forward. There is no new token,
• 6:28
  Speaker 4: there is no new network. So the scope of the
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  Speaker 4: beamchain is specifically the consensus layer, and I mean excluding
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  Speaker 4: the data layer with the blobs and the execution layer
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  Speaker 4: with the EVM. Consensus layer is not directly consumed by applications,
• 6:42
  Speaker 4: and so there's a big opportunity to shake things up
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  Speaker 4: a little bit there, and it basically boils down to
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  Speaker 4: the fact that the beacon chain is kind of old,
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  Speaker 4: and in those five years, so much has happened. We
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  Speaker 4: now know what the mistakes we made with the beacon chain,
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  Speaker 4: and we have a bunch of technical debt which is
• 7:01
  Speaker 4: extremely sticky and tends to pylon over time, and maybe
• 7:06
  Speaker 4: now we have an opportunity to clear this technical debt.
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  Speaker 1: This could be a big leap forward. Well, will be
• 7:12
  Speaker 1: a big leap forward I think for eth in general,
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  Speaker 1: and could be one that could really start to open
• 7:17
  Speaker 1: up the pipeline four eighth as a whole. He talks
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  Speaker 1: about what's included in this upgrade in this next clip listening.
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  Speaker 4: Block, production, staking, and cryptography. We can take the twelve
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  Speaker 4: second slot that we have right now and shrink them.
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  Speaker 4: This is an idea that has happened that has been
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  Speaker 4: talked about for many years, is single slot finality. Can
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  Speaker 4: we dramatically accelerate the process of etherium gaining finality? And
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  Speaker 4: then finally, can we make the cryptography that is securing
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  Speaker 4: ethereum sustainable for the next decades and centuries and make
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  Speaker 4: it post quantum secure items here in the top left
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  Speaker 4: corner are items that I think can be done and
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  Speaker 4: should be done in incremental on the Beacon chain were
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  Speaker 4: left with big ticket items the red items that I
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  Speaker 4: would argue are best done in a more holistic.
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  Speaker 1: Way, simply put faster, and a few other things. In
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  Speaker 1: terms of longevity and being able to be somewhat future proofed,
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  Speaker 1: I think that is a big factor. But remember what
• 8:19
  Speaker 1: he talked about in terms of the Beacon chain being
• 8:21
  Speaker 1: five years old. There have been a lot of changes
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  Speaker 1: around blockchain as a whole just in the last eighteen months,
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  Speaker 1: so I think this might be for a good opportunity
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  Speaker 1: for eth. Justin also went in a little bit further
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  Speaker 1: on their roadmap, and this is kind of interesting because
• 8:35
  Speaker 1: it does lay out how things could play out but
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  Speaker 1: also leave some room for growth. Take a look.
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  Speaker 4: So this light here is trying to show the mapping
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  Speaker 4: from the Consensus Laryer roadmap that I showed you and
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  Speaker 4: Italics broader roadmap. We have some items that are classified
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  Speaker 4: under the Merge, some that are under the Scourge, and
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  Speaker 4: then a couple that are under the verge and the splurge.
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  Speaker 4: The beamchain is not about changing the roadmap more so
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  Speaker 4: than it is about identifying a specific subset of that
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  Speaker 4: roadmap and accelerating it. Now, one thing that is new
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  Speaker 4: in the contensus layer roadmap here is the fastest lots.
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  Speaker 4: The discussion around fastest lots has happened this year in
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  Speaker 4: twenty twenty four, but the talic's roadmap diagram was only
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  Speaker 4: last updated in twenty twenty three.
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  Speaker 1: All right, so it's kind of dicing together that roadmap
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  Speaker 1: with some of the initiatives within what they're trying to
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  Speaker 1: do with the beamchain. This could be a good thing.
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  Speaker 1: They talk about the timeline. This is going to be
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  Speaker 1: important because I think this will really affect or could
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  Speaker 1: affect a lot of different projects.
• 9:45
  Speaker 4: Take a look, every single year we've had a new fork,
• 9:50
  Speaker 4: and every time we had a fork, we made one
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  Speaker 4: incremental change to the consensus layers. We will continue doing
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  Speaker 4: these incremental forks, and we will be picking up the
• 10:00
  Speaker 4: low hanging fruit that was marked as green bubbles in
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  Speaker 4: the road map. But then we're gonna kind of hit
• 10:05
  Speaker 4: a wall. We'll be left with all of the big
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  Speaker 4: ticket items that are much more difficult to do in
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  Speaker 4: an incremental fashion. And this is where the beamfork happened.
• 10:16
  Speaker 4: The beamfork is an opportunity to have a quantum leap
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  Speaker 4: forward in terms of upgrading the consensus layer all in
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  Speaker 4: one go. Starting from twenty twenty five, we start the
• 10:29
  Speaker 4: specking process, and then in twenty twenty six the building
• 10:32
  Speaker 4: process can happen, and then in twenty twenty seven would
• 10:36
  Speaker 4: start an extremely thorough testing process to make sure that
• 10:39
  Speaker 4: this is all production grade and safe to deploy on maintenance.
• 10:43
  Speaker 4: And I'm very pleased to be able to announce today
• 10:47
  Speaker 4: that we have already new consensus client teams that are
• 10:51
  Speaker 4: willing to build beam clients. So we have one which
• 10:54
  Speaker 4: is based in India, which is called the Zeam team,
• 10:57
  Speaker 4: and then we have Lambda class in South America that
• 11:01
  Speaker 4: has signaled an interest to also write a being pliant.
• 11:05
  Speaker 1: Is ETH going to get out Eth? You know? Is
• 11:08
  Speaker 1: Solana the next ethereum? Is we the next ethereum? And
• 11:11
  Speaker 1: I think that's the thing that you have to kind
• 11:13
  Speaker 1: of compare is the fact that they're willing to make
• 11:15
  Speaker 1: these kind of changes and upgrades is a pretty big deal. Now,
• 11:18
  Speaker 1: the question is is this a new version of ETH?
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  Speaker 2: Take a look now, the question that I've seen has
• 11:24
  Speaker 2: gotten the most votes of any of the rooms so far,
• 11:26
  Speaker 2: twenty is the number to b are you, okay, just
• 11:29
  Speaker 2: in with people calling this etherium three point oh. The
• 11:32
  Speaker 2: meme layer of etherium wants to do this, So.
• 11:35
  Speaker 4: In my opinion, the moniker a firm three point zero
• 11:37
  Speaker 4: is not appropriate. The beam chain is only about the
• 11:41
  Speaker 4: consensus layer, and there's lots of exciting stuff happening at
• 11:45
  Speaker 4: these layers of the stack as well. So this is
• 11:47
  Speaker 4: why I've tried to avoid the firm three point zero Moniker.
• 11:51
  Speaker 2: Fair answer as well. But people will do what people
• 11:54
  Speaker 2: do best, and they'll call it etherium three point zero,
• 11:56
  Speaker 2: and we'll get a few new coins and people ask
• 11:58
  Speaker 2: all the exchanges, will my eight room change and all
• 12:01
  Speaker 2: of that.
• 12:02
  Speaker 1: I mean, this is more a fanatic scenario. They don't
• 12:04
  Speaker 1: really need to change it as a you know, e
• 12:07
  Speaker 1: three They are talking about just the consistence liber Even
• 12:10
  Speaker 1: though it is a big would be a big shift
• 12:12
  Speaker 1: in ETH as a whole, it's only one part of it.
• 12:15
  Speaker 1: The other thing I want to get into because many
• 12:17
  Speaker 1: people want to know why is it so slow? One?
• 12:19
  Speaker 1: Is ETH just not make you know, much quicker faster
• 12:22
  Speaker 1: changes like some of the other chains out there. Well,
• 12:24
  Speaker 1: part of it is the dow governance. Here's an example.
• 12:27
  Speaker 2: Anyway to accelerate that timeline? We moved Okay, okay, well
• 12:34
  Speaker 2: let's take the foot well, okay, they voted for eighteen nineteen. Okay,
• 12:36
  Speaker 2: let's do that one. Why are EAT researchers obsessed with
• 12:39
  Speaker 2: lowering issuance? It's God, guys. We need the dow to agree.
• 12:49
  Speaker 4: Anyway to accelerate that timeline. Please email us at BAM
• 12:53
  Speaker 4: dot chain at the film dot org if you want
• 12:55
  Speaker 4: to accelerate.
• 12:56
  Speaker 1: Let's go. I'm agreeing. I'm agreeing right now, I'll email.
• 12:59
  Speaker 1: Let's alerate the timeline. Let's accelerate the governance in general.
• 13:03
  Speaker 1: I think this is the characteristic of blockchaining. I understand
• 13:06
  Speaker 1: being slow, but the key here is we've learned so
• 13:09
  Speaker 1: much just in the last five years. A lot of
• 13:11
  Speaker 1: this stuff can, I think and will be accelerated, especially
• 13:14
  Speaker 1: as we start to see this tech roll out. All Right,
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  Speaker 1: but it does give you a framework of understanding what
• 13:26
  Speaker 1: you're investing in. And that's the number one thing. You
• 13:28
  Speaker 1: need to understand where this tech is going to really
• 13:30
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