Beacon Chain block 20704

Hash

1fc97c581c81501974743bc5d0265dfbabae11f634e93a9982f26b611ccea050f...

03 Mar 2021 12:32:11 UTC (4 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.