The role of Beacon chain in Ethereum | ETH2 | NBIC
Channel: NBIC Native Blockchain Infrastructure Company
Date: 2022-09-30

Ethereum is still live and fully functional, and will remain so until it merges with the new Eth2 blockchain and becomes a separate shard.

Meanwhile, a massive new structure is being built alongside Ethereum.

Proof of Stake has long been on Ethereum's initiative, and it addresses some of the shortcomings of Proof of Work blockchains, such as accessibility, 
centralization, and scalability. Instead of miners expending energy validating blocks, randomly selected validators (each with their own 32 ETH stake) propose new blocks that are voted on by other validators.

Each block contains a randomness source, which is mixed with the other random data in the epoch.


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