Beacon Chain block 167966

Hash

2bfb65366da57de1878e8dd0057fc78faf61b5367805e088d3f8702110db30882...

18 Dec 2022 00:28:59 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.