Beacon Chain block 171305

Hash

a94d4b1b33cde538f4afedb049f6aa5d4a13e3dc53f0d14617911b8b502da1493...

01 Jan 2023 20:38:35 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.