What is Beacon Chain Network, and how it is going to affect the Ethereum network?
Ethereum has been in the news of its merge, the known smart chain Mainnet is making upgrades to its chain network that includes more security and scalability.
It is a new consensus engine or consensus layer that has taken the place of PoW mining, bringing numerous improvements with its launch.
The Beacon Chain introduced PoS to Ethereum. It is a new way for people or Ethereum enthusiasts to help keep Ethereum secure. Staking is like public support that will make Ethereum healthier and earn the stakers more ETH in this process.
The transitions to proof-of-stake (PoS) will make Ethereum significantly more secure and decentralized by comparison. The more the people participate in the network, the more decentralized and safe, and secured it becomes.
The Merge ended Ethereum Mining
The Merge. In this process merging between two layers takes place i.e., the new consensus layer with the existing execution layer(Mainnet), and the mining stops.
Beacon model
The Ethereum upgrades are all somewhat interrelated. Let’s see how the Beacon Chain affects the other coming-up upgrades.
Know the detailed article on how it works
Stay tuned for more.
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