Beacon Chain block 71849

Hash

6ed0db58474b8145fe09ee3a01769bb4a520143d3989adaa7d41c085ccb6bb641...

16 Oct 2021 20:00:11 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.