Yesterday December 1st, the first fundamental step of the transition from the Proof Of Work (POW) consensus mechanism to the Proof Of Stake (POS) took place successfully thanks to the successful Beacon Chain genesis.
The Beacon Chain will have the following functions within the Ethereum blockchain:
“Managing the proof of stake mechanism”;
"Processing Crosslinks";
"Direct consensus and finality".
This is the Youtube video of the Beacon Chain Genesis launch:
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