Beacon Chain block 70048

Hash

5abbff62a3fe6d25712f2f25f163bb8bc91bb04de973ff661ddfb267ad996943e...

08 Oct 2021 19:53:47 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.