Beacon Chain block 70871

Hash

40fb1bf25f7099ef390d441b2fc954ddb5801a2528249405833f00ef196713336...

12 Oct 2021 11:40:59 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.