Beacon Chain block 56996

Hash

106ce914ce07cd06b95a678c4bad5ebef4756740b827e8c6c4a474ae4a82a5ac1...

11 Aug 2021 19:40:59 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.