Beacon ETH is the token used in the Beacon Chain network, which aims to bring proof-of-stake to Ethereum. This new approach offers a means for individuals to contribute to Ethereum’s security while also earning more ETH. By staking ETH, validators can activate validator software, allowing them to process transactions and create new blocks in the chain.
Compared to mining, staking and becoming a validator is a simpler process, and it is hoped that this will enhance the security of Ethereum over time. The network becomes more secure and less susceptible to attacks as more people participate in it, leading to a greater level of decentralization.
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