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This template creates a CodePipeline pipeline that describes how software changes go through a release process. The pipeline has stages for source, beta, and release. The source stage detects changes to an application stored in an S3 bucket and pulls them into the pipeline. The beta stage deploys the changes to EC2 instances using CodeDeploy. The release stage is disabled for inbound transitions, allowing you to control when the changes are ready to be deployed to release. The pipeline also includes an artifact store in an S3 bucket with encryption using a KMS key. Inbound stage transitions are disabled for the release stage with a reason specified. Tags are also added to the pipeline.