Beacon Chain block 56555

Hash

dd8ad6ab425c3f0822aa8aaebbdc637167490f7744648dd78fe779f39bc4dd056...

09 Aug 2021 20:38:35 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.