ETBR

ETBR refers to the Ethereum 2.0 Beacon Chain, a foundational component of the Ethereum network's transition to a Proof-of-Stake consensus mechanism. It was launched on December 1, 2020, marking a significant milestone in Ethereum's development. The Beacon Chain is not responsible for processing transactions or executing smart contracts directly; instead, its primary role is to manage and coordinate the network of validators. These validators are responsible for proposing and attesting to new blocks, thereby securing the network.

The introduction of the Beacon Chain laid the groundwork for future upgrades, including the merging of the existing Proof-of-Work execution layer with the Proof-of-Stake consensus layer, which occurred in September 2022. This merge, often referred to as "The Merge," effectively transitioned Ethereum from its energy-intensive mining model to a more sustainable and scalable Proof-of-Stake system. The ETBR continues to operate as the core of this new consensus mechanism, enabling features like sharding which are planned for subsequent upgrades. Its existence is crucial for the future scalability and efficiency of the Ethereum blockchain.