Beacon Chain block 61961

Hash

0f3e138e1263387b398a016b2265d75e4f8147558f49039087f97d461551cdf9e...

02 Sep 2021 21:16:59 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.