Beacon Chain block 56778

Hash

b39f77fe98a1923dedbbb9c04bef74e58030708b9df8a35dcdb3e1fa9f302ad47...

10 Aug 2021 20:25:47 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.