Beacon Chain block 171236

Hash

b91ecb13368f17e73565a8526408bc31085f804aa077868b421298957a4aa2c0d...

01 Jan 2023 13:16:59 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.