Beacon Chain block 56661

Hash

7c2f9872a220c0521e7c716e2478187cf3ba33d8d18eb20da5814ea1a271a7c56...

10 Aug 2021 07:56:59 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.