Beacon Chain block 80380

Hash

704dcce765dd7ad4be7b980e12c902494f7d943b7085f295f56260395d18962cf...

23 Nov 2021 17:58:35 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.