Beacon Chain block 57560

Hash

706e3957c8f7f73ea3dce773f264ad749da1e255c99acbbb3af2c9834ca9ed65b...

14 Aug 2021 07:50:35 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.