Beacon Chain block 71806

Hash

b1c26736a15418a3cd4126c01cf4c76f601be156f569535fb6c0b4c97d63f432d...

16 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.