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Beacon Chain
The Beacon Chain is a key component of Ethereum’s transition from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism. Launched in December 2020, the Beacon Chain is responsible for managing the proof-of-stake system, including validating transactions and staking activities. It operates alongside the existing Ethereum network but doesn’t yet process transactions directly. The full integration of the Beacon Chain occurred during "The Merge," marking the completion of Ethereum’s move to PoS.
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