Beacon Chain block 58691

Hash

a8c548c1881c24bc742ec90d37c698b8732d071378b9c0e4f347d8497e656069c...

19 Aug 2021 08:28:59 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.