Ethereum Celebrates Beacon Chain’s Fourth Birthday Ahead of Overhaul

The launch of Ethereum’s Proof of Stake consensus layer, the Beacon Chain, took place four years ago on Dec. 1. However, the transition to Proof of Stake has not played out as expected. On Dec. 1, Justin Drake, an Ethereum Foundation researcher, took to X to celebrate the milestone. Drake noted that the Beacon Chain now provides Ethereum with $125 billion worth of economic security and has achieved 100% uptime since launch. “No other PoW or PoS chain comes close — the gap is immense,” Drake said. “Looking ahead, there is a tremendous opportunity to cement Ethereum as the settlement layer for the internet of value.” To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io