Beacon Chain block 70863

Hash

fe3bd139e192b95b2826793ca9a33c03e0d252b9fa61008ff5e54120cb5cd90b7...

12 Oct 2021 10:49:47 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.