Beacon Chain block 166634

Hash

1473271ef5137f2650d2e17a49c54ce15cae2e71926e106707219c9bf51839fbb...

12 Dec 2022 02:24:11 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.