Since you have an untagged environment, you can use
\documentclass{beamer}
\begin{document}
\begin{frame}
\begin{align*}
\onslide<1->{a &= b \\}
\onslide<2->{b &= c \\}
\onslide<3>{\Rightarrow \quad
a &= c}
\end{align*}
\end{frame}
\end{document}
For a tagged environment additional work has to be done, as described in Section 23.4 Uncovering Tagged Formulas Piecewise of the beamer manual:
\documentclass{beamer}
\begin{document}
\begin{frame}
\begin{align}
\onslide<1->{a &= b \\}
\onslide<2->{b &= c \\}
\onslide<3>{\Rightarrow \quad
a &= c \\}
\notag
\end{align}
\vskip-1.5em
\end{frame}
\end{document}