Glossary - ChicksX

Beacon Chain is Ethereum's backbone for transitioning to Proof of Stake, coordinating validators and ensuring network consensus.

Beacon Chain is the core component of Ethereum's transition to a Proof of Stake (PoS) system. It manages validators, coordinates the network, and ensures consensus. Launched in December 2020, it runs parallel to Ethereum's original blockchain, facilitating the shift from energy-intensive Proof of Work (PoW). The Beacon Chain introduces staking, where validators lock up ETH to propose and validate new blocks. It enhances scalability, security, and sustainability. By reducing reliance on traditional mining, it aims to improve Ethereum's environmental impact. Ultimately, the Beacon Chain is pivotal in Ethereum's evolution toward Ethereum 2.0, a more efficient and robust network.