Beacon Chain block 56596

Hash

de1086f3e01f3d46222e392c4136004080ee56aa7c678242dbe3c3cdf3ba3351c...

10 Aug 2021 01:00:59 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.