Beacon Chain block 74847

Hash

9e9cb9614e0b2e766e304d9ef972312cee75b6034d4f02cfb9b5275fef6a9cdb1...

30 Oct 2021 03:47:23 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.