Beacon Chain : What are the Beacon Chain Impacts on the ETH network?
Have you heard of Beacon Chain ever? Well! You may find it new for you but probably ETH or ETH 2.0 are the names that probably every trader knows. Let me tell you that Beacon Chain was first launched on Dec 1, 2020, as a trial to introduce the PoS (Proof-of-Stake) to the ETH network which was previously employed on the Proof-of-Work mechanism. Proof-of-Work is not that much great as Proof-of-Stake in some aspects so to improve the scalability, efficiency and speed of the Ethereum network, ETH employed the PoS which improvised the efficiency of the ETH network, and this version of the ETH latterly known as ETH 2.0. But, if we talk about the behind-the-scenes, Beacon Chain was launched to test the PoS on the ETH network. And, after finding it beneficial, they merged this phase into the Ethereum network and launched ETH 2.0. In this read, we will understand the Beacon Chain further, as well as we will look at the impacts of Beacon Chain. A cursory look at the Beacon ...