Beacon Chain block 58647

Hash

b55a70f8e82ef26ca1af3fccb5baf3f53f931b7ff32ad3cf404c3c6c4803ceb8f...

19 Aug 2021 03:47:23 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.