Beacon Chain block 75342

Hash

bc5ce951cd0f92778243c597252b7252d5ab31730c430fa6d308c3fb20ffb65e2...

01 Nov 2021 08:35:23 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.