Beacon Chain block 54299

Hash

7841599ee7a18898ed42ad781fe61e40486e5e12eb47ab5372c74782bc0995b8a...

30 Jul 2021 20:00:11 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.