Beacon Chain block 171292

Hash

bcb24f9aba5c067bb8ea362d3571d4f72c8ac332432efae86eb9ae272c78c3841...

01 Jan 2023 19:15:23 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.