Beacon Chain block 54617

Hash

25028e220b2661ac579211a95b6446613451e705cf2d4fed7a912be78997296a6...

01 Aug 2021 05:55:23 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.