The Ethereum Merge is Here at Last. What Does it Mean for the Market?

The Ethereum Merge shipped at long last on September 15 2022. It's taken the Ethereum (ETH) team a long time to finalise their Merge. This technological and software overhaul – formerly referred to as 'Ethereum 2.0,' is a major milestone in the development plan of the platform.

In this article, we'll lay out what this package of upgrades accomplishes, and how their combined effects – the Merge – affect this major blockchain.

We'll also discuss how this news will have knock-on effects on derivative and smaller cryptocurrencies that are based on the Ethereum (ETH) framework.

Coins such as Big Eyes Coin (BIG) and Floki Inu (FLOKI) exist as ERC-20 tokens, meaning they're on the Ethereum (ETH) blockchain. Therefore, changes to the ETH network necessarily impact these coins. Read on to find out how.

The Merge – How Does it Work?

The Merge can best be described as a software and technological overhaul. The transaction method of the network has been migrated to a 'Proof of Stake' model, evolving past the older, clunkier 'Proof of Work' technique.

This was achieved by 'merging' the original Ethereum (ETH) network with a Proof-of-Stake blockchain, the Beacon Chain, which is now the sole chain of the platform.

In simple terms, imagine that there were two streams making up the flow of Ethereum (ETH). The developers have just built a dam that diverts the water from one stream into the other.

All the data of Ethereum's (ETH) past was taken along in this merge – transaction history joined the new chain without loss. Wallets still work exactly the same, so beware any claim to the contrary.

What Will the Merge Do?

The Merge's impact is hard to measure in quick statistics or facts, but one of the biggest benefits is that it minimises the energy consumption of the Ethereum (ETH) network. In fact, according to figures from the Ethereum team, the platform's total energy usage dropped by as much as 99.95%.

This means Ethereum (ETH) can now be called a 'green' cryptocurrency network. Transactions are lighter, faster, and draw significantly lower amounts of energy.

Generally speaking, this can only be good news for the Ethereum (ETH) network. It will be cheaper and more environmentally friendly to run, and the team can rightly use this fact for the public relations boost they deserve.

It may take some time for the full benefit of this Merge to take hold, but so far, it seems signs are positive for Ethereum (ETH): from October 24th, just one month after the execution of the Merge, ETH surged in value, peaking over $1630.

What Can Ethereum-Reliant Coins Expect?

ERC-20 tokens are tokens that exist on the Ethereum (ETH) blockchain network. The Smart Contracts that form the bedrock of their activities are completed on the same chain as ETH. This means that they are reliant on the Ether network to complete transactions.

Consequently, the Ethereum Merge will necessarily have a knock-on effect on their performance. With the Ethereum (ETH) chain becoming smoother and more efficient, it follows that transferring or moving ERC-20 tokens will likewise be quicker and lighter on the processing power.

Coins like Big Eyes Coin (BIG) can look forward to lower power input required to maintain fast and smooth transactions, as well as feeling more secure about the environmental impact their project is having on the world.

It's possible the Merge is already having a positive impact on Big Eyes Coin (BIG) – the presale phase of this new meme coin has been an extreme success so far, with the coin racking up almost $9.3M and counting.

If you're interested in checking out Big Eyes Coin (BIG), click the following links to visit the project's homepage. If you're getting some Big Eyes tokens for yourself, you can claim bonus tokens by applying the promotional code: BIG163

Big Eyes Coin (BIG)

Website: https://bigeyes.space/

Telegram: https://t.me/BIGEYESOFFICIAL

Twitter: https://twitter.com/BigEyesCoin