Beacon Chain block 162403

Hash

8955ca19529e0348bb38ffe796c818c09d1ac69efe434d8ce79590d359d430e73...

23 Nov 2022 07:05:47 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.