Home/ Brand Stories / Why will Big Eyes Coin succeed by inheriting Ethereum’s PoS Mechanism

Crypto experts hail the proof-of-stake (PoS) consensus mechanism for its plethora of advantages over the more outdated yet still widely used proof-of-work (PoW). Many cryptos already run on PoS, while others, such as Ethereum (ETH), are gearing up to onboard PoS. This onboarding will allow the new cryptocurrency, Big Eyes (BIG), to inherit this technology.

However, many cryptos continue to stick to PoW. One such crypto is Enjin coin (ENJ), which, like Ethereum (ETH), has achieved enormous success since its launch into the cryptocurrency market, and with PoW nonetheless.

Considering the success of Ethereum (ETH) and Enjin Coin (ENJ), this guide will discuss all there is to know about Big Eyes (BIG) and analyze whether it has what it takes to replicate their success. Before that, the article will discuss Ethereum’s (ETH) new PoS mechanism and how Enjin Coin (ENJ) is breaking boundaries in the crypto world.

Ethereum to Do More with the Merge

Ethereum (ETH) is the most successful cryptocurrency after Bitcoin (BTC). Nevertheless, the altcoin king is about to level up its success with its transition from PoW to PoS.

For crypto enthusiasts not in the know, Ethereum (ETH) is in the process of its Ethereum (ETH) 2.0 upgrade, also known as the "Ethereum Merge." Ethereum’s (ETH) complete transition to PoS is an integration of its PoS network—Beacon Chain (a “Consensus" layer)—into the Ethereum (ETH) mainnet (the "Execution" layer).

Current estimates suggest that the Ethereum (ETH) Merge will help Ethereum (ETH) reduce its energy consumption by 99%. Per the latest crypto news, a Bellatrix hard fork preparing the Ethereum (ETH) blockchain for the merge took place on September 6, while the merge will happen around 13th–15th September.

Upon completion, Ethereum (ETH) will leverage PoS to deliver eco-friendly, low-cost, and lightning-fast transactions with improved security, scalability, and sustainability.

Undoubtedly, the Ethereum (ETH) 2.0 upgrade will draw potential users who continue to stay away from the altcoin leader due to high fees and congestion. It will also potentially accelerate the corporate adoption of Ethereum (ETH), especially by institutions prioritizing environmental, social, and governance (ESG) mandates.\

Enjin Coin Is Empowering Gamers

The Ethereum-based Enjin Coin (ENJ) functions within the Enjin ecosystem, a smart contract platform. As a revolutionary cryptocurrency, Enjin Coin (ENJ) holds promise for the gaming industry and is changing the way crypto users trade in-game items.

Enjin Coin (ENJ) provides game developers and communities with the necessary crypto-backed value, alongside tools for implementing and managing virtual goods. It is a decentralized crypto token that caters to managing, distributing, and trading virtual assets, including NFTs.

A large and enthusiastic community, working products, and adoption by some of the world’s leading organizations, including Samsung, make Enjin Coin (ENJ) an altcoin with great features.

Big Eyes to Develop a Robust NFT Platform

From what is known, the meme coin, Big Eyes (BIG), will employ the PoS consensus mechanism upon its launch into the cryptocurrency market. The Big Eyes (BIG) project seeks to develop a cost-effective, eco-friendly, and self-propagating ecosystem that enables users to benefit from DeFi development.

Big Eyes (BIG) has the potential to succeed like Ethereum (ETH) and Enjin Coin (ENJ) by leveraging NFTs’ profitability. Based on the Ethereum (ETH) network, Big Eyes (BIG) will foster the growth of eco-friendly NFTs. The altcoin will enable fast, cost-effective, and highly secure NFT minting, selling, and trading, among other things.

Big Eyes is currently on presale. It will have a 200 billion maximum supply, with 70% (140 billion tokens) up for a public presale. There is no available information on the token launch at the time of writing. Nevertheless, the new cryptocurrency is fast becoming one of 2022’s most anticipated crypto projects.

The Bottomline

Big Eyes (BIG) inheriting Ethereum’s (ETH) PoS mechanism will set the meme token up to compete favorably in the meme coin sector alongside the cryptocurrency market. Like Enjin Coin (ENJ), Big Eyes’ (BIG) NFT ecosystem can grow beyond current predictions, helping to attract crypto enthusiasts and increase the token value.

For more on Big Eyes (BIG), visit these links:

Website: https://bigeyes.space/

Enter the presale: https://buy.bigeyes.space/

Disclaimer: This article is a paid publication and does not have journalistic/ editorial involvement of Hindustan Times. Hindustan Times does not endorse/ subscribe to the contents of the article/advertisement and/or views expressed herein.

The reader is further advised that Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.

Hindustan Times shall not in any manner, be responsible and/or liable in any manner whatsoever for all that is stated in the article and/or also with regard to the views, opinions, announcements, declarations, affirmations etc., stated/featured in same. The decision to read hereinafter is purely a matter of choice and shall be construed as an express undertaking/guarantee in favour of Hindustan Times of being absolved from any/ all potential legal action, or enforceable claims. The content may be for information and awareness purposes and does not constitute a financial advice.

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Updated: 14 Sep 2022, 06:30 PM IST
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