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The Ethereum Merge is one of the most anticipated events of 2022. It is a necessity for Ethereum to enable it to compete in the present green world revolution. Many blockchains are already devising protocols to reduce carbon and energy emissions into the atmosphere, and Ethereum, being the leading blockchain for DeFi, needed to lead by example.
The merge is now imminent as Ethereum recently completed the first step of the upgrade called the Bellatrix upgrade, which will usher the network into the second and final step of the transition called the Paris upgrade. The upgrade is expected to take 2 to 3 days to complete, in the meantime, normal Ethereum activities can proceed at a risk.
The merge will be smooth, Ethereum Foundation confirms. However, there are some merits and demerits associated with the merge. One of the demerits we’ll capitalize on in this context is “the fate of Ethereum’s miners.” Also, how does the merge affect altcoins like Ethereum Classic (ETC) and Big Eyes Coin — a new cryptocurrency in the market?
The fate of Ethereum miners following the merge
The merge will shift the Ethereum network from being a Proof of Work (PoW) to a Proof of Stake (PoS) consensus network. Ethereum miners with heavy and costly equipment that rely on the Ethereum mining job may seek alternative cryptocurrencies still using the mining protocol—and their number one destination would likely be the Ethereum Classic.
The Ethereum “forked” Classic coin
Ethereum underwent a major fork in 2016 after its DAO hack, which produced the Ethereum Classic (ETC). Since then, Ethereum Classic has been an independent network powered by the ETC coin. Like Ethereum, ETC validated transactions in a similar way using the Proof of Work, which is still prevalent to this day.
Miners of the Ethereum network until the merge, will lean towards ETC now. Ethereum Classic will possibly satisfy their mining needs now that the merge is imminent. On announcing the news of the merge’s date, Ethereum Classic has been on a positive trend, this could signal that miners and traders are already keeping a close eye on the coin.
Big Eyes Coin could follow the soaring trend
Big Eyes Coin (BIG) is a meme token and the native coin behind the Big Eyes ecosystem. Big Eyes Coin is set to promote charitable causes and drive liquidity in DeFi through its ecosystem comprising NFTs and crypto trading.
The Ethereum Merge could, also, in one way or the other, affect the prices of $BIG when it launches fully and does ICO. At the time of writing, Big Eyes Coin is still undergoing presale. Its presale is also set to end anytime soon as it has almost reached its milestone of proposed community members.
The doors are still open for interested individuals or institutions who want to join Big Eyes’ governance and get future rewards and discounts. You can get started by visiting Big Eyes’ official website or its Telegram community below.
Big Eyes Coin (BIG)
Presale: https://buy.bigeyes.space/?section=buy
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
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