Beacon Chain block 54451

Hash

690dfdeb8f00ede689cdafebcf185a6641fdabf002f4f58426aaec8b0692811ab...

31 Jul 2021 12:12:59 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.