Beacon Chain

The Beacon Chain is an essential part of Ethereum 2.0's upgrade, functioning as the backbone for a new blockchain system. It manages the proof-of-stake consensus, where participants "stake" their ETH to help validate transactions and create new blocks. The Beacon Chain runs in parallel with the existing Ethereum network, coordinating validator activities, maintaining the blockchain’s security, and preparing for the full transition to a more scalable, energy-efficient system. It ensures the network stays synchronized, secure, and decentralized, paving the way for future improvements and upgrades to Ethereum.