Beam Chain is not a new blockchain in the literal sense, but a new infrastructure built within the Ethereum mainnet that will significantly enhance the transaction speed, security, and efficiency of the L1 mainnet. Some interpret Beam Chain as Ethereum 3.0, which is a misunderstanding, as Beam Chain only addresses the consensus layer issues and does not change the data layer (such as blob channels) or the execution layer (such as the Ethereum Virtual Machine (EVM)).