The Beacon Chain is the core component of Ethereum 2.0 that coordinates the network of stakers and shards, managing the Proof of Stake consensus mechanism and serving as the backbone of the upgraded network.
Blockchain is a decentralized digital ledger technology that records transactions across multiple computers in a way that makes them tamper-proof and immutable. Each block contains a list of transactions, and these blocks are linked together in a chronological chain using cryptographic hashes. This technology enables trustless and transparent transactions without the need for intermediaries.
A block explorer is an online tool that allows users to view and search blockchain transactions, blocks, addresses, and other data.
A block reward is the incentive given to miners for successfully validating and adding a new block to a blockchain.
A burn address is a cryptocurrency address where tokens are sent to be permanently removed from circulation.
A blockchain fork occurs when a blockchain splits into two separate chains. Forks can be classified as hard forks.
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