Beacon Chain block 72940

Hash

b8d3a3b36b5fed0c98841ff3978dab7e264ed3ec71fdc02800c060b4dfbc7e5ed...

21 Oct 2021 16:22:35 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.