An upgraded version of the Beacon, however it doesn't remove the need for a vanilla beacon. It brings new buffs (and debuffs) into the game, but won't give you any buffs from a vanilla beacon, except for Regeneration.
Regeneration is an exception because this beacon gives Regeneration II and the normal one only gives Regeneration I
To add a new buff to the Beacon you have to place a item in its inventory, it give a total of 5 buffs and 4 debuffs. Buffs will affect players while Debuffs will affect mobs (Their resistance to certain potion effects is still applied).
List of Buffs and Debuffs
|Buff / Debuff||Item|
|Fire Resistance II|
|Water Breathing II|
|Mining Fatigue II
(Reduces attack speed)