At the core of Ethereum 2.0 lies the Beacon Chain which is responsible for the storage and management of validator registries along with coordinating the shard chains. The Beacon Chain went live back on December 1, 2020, at noon UTC.
Beacon Chain can be described as the brand new, proof-of-stake Blockchain which is the entire support system for newly launched Ethereum 2.0. Managing the proof-of-stake protocol all by itself, it is also responsible for managing the shard chains.
Beacon Chain can upgrade the data capacity for Ethereum, ensuring a faster network with more scope for scalability. Once Ethereum 2.0 spreads its network load across its 64 different shards, Beacon Chain is going to oversee everything.
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