Beacon Chain block 167543

Hash

70f580ec22b4e415d3468135244408013ad8ba7e3192fc4e4e10b63cd4dbe06fc...

16 Dec 2022 03:21:47 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.