Beacon Chain block 70957

Hash

40010c5b7ac93326a7e780b419ce67652c1af657216dea4afc257768aca8ef04e...

12 Oct 2021 20:51:23 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.