Beacon Chain block 71431

Hash

9ad451d2c5c46c2990fc176d6fae4a77dd4abff02335d032b2ac9e025322790fe...

14 Oct 2021 23:24:59 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.