Beacon Chain block 119638

Hash

c94767eb8c1792bbc3eec446181015f361e99952694cce76f9d8fcf8c92c88d43...

17 May 2022 05:29:47 UTC (2 years ago)

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The Beacon Chain is a key component of the Ethereum 2.0 upgrade, which introduces proof-of-stake to the network, fundamentally changing the consensus mechanism from proof-of-work to a more energy-efficient system. It acts as the central coordination and consensus layer, managing the network of validators, their stakes, and providing the backbone for shard chains to ensure scalability and security for the entire Ethereum ecosystem.