Beacon Chain block 167634

Hash

3ec8a20116e6a7eefbebf759435dbc47978f25d7ed9c90d3303f02e5fe5e3425b...

16 Dec 2022 13:04:11 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.