Beacon Chain block 70362

Hash

dca94a04c9785571652e92e87c3a56a51058e83565da34af97f0db50ce44b8887...

10 Oct 2021 05:23:23 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.