Beacon Chain is a key component in the implementation of proof-of-stake (PoS) on the Ethereum network. He acts as a coordinator to organize and maintain a network of validators (stakers) who are responsible for achieving consensus in the process of mining new blocks.

Beacon Chain has several key functions in the Ethereum PoS ecosystem:

Manage validator registration and removal, as well as schedule which validators will propose new blocks.

Receive and verify new blocks proposed by validators, and manage consensus chain updates.
Distribute rewards to validators who participate correctly, and give penalties to validators who behave badly.

Coordinating future sharding implementation, where Beacon Chain will manage separate shard chains to improve scalability.
Beacon Chain serves as the heart of the PoS consensus mechanism on Ethereum, ensuring network integrity and security by coordinating validator activity.

 

Examples of Beacon chain usage in sentences

“After staking, the validator is registered on the Beacon Chain and begins to participate in the Ethereum PoS consensus process.”

“Beacon Chain verifies new blocks proposed by validators and adds them to the main chain if they are valid.”

“Validators who do not follow consensus rules will be penalized by Beacon Chain, while those who participate correctly will receive rewards.”

 

Apart from the term beacon chain which has been explained here), there are many other crypto terms that you can learn more about. You can find information about these terms in the most complete crypto dictionary from Indodax Academy.

 

Source:

https://coinmarketcap.com/academy/id/glossary/beacon-chain