Beacon Chain block 47247

Hash

59ee0f607d3a7772a1e6005a35894bc92d18967afa806ad7a2b8cb94d24a3e3bc...

29 Jun 2021 11:47:23 UTC (3 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.