Beacon Chain block 55026

Hash

617ae66abb4889d2e83324ac5e1b8a47e6a3ac8c0870a906321d6119517cb91f6...

03 Aug 2021 01:32:59 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.