Beacon Chain block 173693

Hash

5cee0cc7929934de1ef1ad2d66ebcc247a30bc8bfb7f68ca7116b8995cb9b3d78...

12 Jan 2023 11:21:47 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.