Beacon Chain block 71581

Hash

c8d8047d6aa442746c31384981322b503580e629ecbfcd7ec80679a5f1bcfaa10...

15 Oct 2021 15:24:59 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.