Beacon Chain block 79697

Hash

24cea2b723315d727bd96e3c47e95118c5a49dad61d516ced20d0a1748496de4e...

20 Nov 2021 17:07:23 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.