Beacon Chain block 56503

Hash

a3bb42ec9ff53e3ca59c855767e08b0e9dd42cb3504a4f5cddaa41d609a661ce4...

09 Aug 2021 15:05:47 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.