Beacon Chain block 163697

Hash

0696c490649b66fd347ba4843c82447fee05c7b03933c4f418d28968e284e4449...

29 Nov 2022 01:07:23 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.