Beacon Chain block 59170

Hash

167a7e3866adbcc80612d4baf4f394669a4da00a7f42aa9c3fddc61cdb0807ba3...

21 Aug 2021 11:34:35 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.