Beacon Chain block 163421

Hash

37af02f14b1b7c4854238ef426974a64b4ad0246dcb1be05a2ab54989d914a8b2...

27 Nov 2022 19:40:59 UTC (1 year 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.