By EWN • 07 October 2022 • 15:23
The upcoming meme token Big Eyes Coin (BIG) has grown significantly in popularity ever since it emerged into the market in 2022. Its distinct figurehead and ambitions to aid ocean conservation, targeting an important part of the world’s ecosystem. BIG recently entered its third stage in presale, and has already raised $3 million!
At the same time, blockchain veteran Ethereum (ETH) finally conducted its long-awaited upgrade on 15 September 2022, transitioning from a proof-of-work mechanism to a proof-of-stake consensus. Almost three weeks in, the merge has shown to have had a positive effect on the development of new Ethereum blocks. This editorial will discuss how Big Eyes Coin grew in popularity while exploring the impact of the launch of Ethereum’s long awaited upgrade.
The Big Eyes Coin (BIG) blockchain network has made a quick impact since its arrival on the crypto market in 2022. Meme coins have become one of the most popular sectors in crypto due to their satirical and fun nature – contrasting with the ethos of traditional cryptocurrencies such as Bitcoin and Litecoin. Entering itself into an oversaturated market, Big Eyes Coin has found a niche that has contributed to its rapid rise in popularity.
Meme coins generally centre their brand around dogs. Big Eyes Coin’s uniqueness originates from its mascot, an anime/manga-styled cat with large pupils. The network takes inspiration from Japanese culture, and targets a country with an estimated 3.21 million active crypto accounts. Furthermore, having their feline figurehead fashioned in an anime style targets the manga/anime sector, which is estimated to be worth $24.80 billion. Unlike meme currencies like Dogecoin and Shiba Inu, the coin’s design is easily identifiable.
But BIG’s strategic marketing does not end there. The blockchain network also aims to donate 80% of the 200,000,000 available tokens will go towards ocean protection charities. Further ambitions of Big Eyes Coin is to get their ‘NFT Sushi Crew’ into the top ten best-ranked NFT marketplaces. The Sushi Crew, according to BIG, is a group for NFT holders who appreciate owning cute stuff, doing fun activities, and eating fish.
Ethereum is a well-known decentralised open-source blockchain technology with its coin, Ether. ETH pioneered the concept of using smart contracts – computer programs that automatically carry out the steps required to fulfil an agreement reached between numerous parties online.
On 15 September 2022, Ethereum completed its long-awaited Merge with The Beacon Chain. This Merge aimed primarily to convert the blockchain to a proof-of-stake (PoS) consensus mechanism from previously using proof-of-work (PoW). The change has shown to have had a favourable influence on the production of new Ethereum blocks.
The Merge was regarded as one of Ethereum’s most important enhancements. After successfully converting the network to PoS. On the same day that the merge was conducted, the number of blocks manufactured every day increased by around 18%, from around 6,000 to 7,100. Following this change, Ethereum’s average block time — the time it takes miners or validators on a network to validate transactions — decreased by more than 13%.
Essentially, the upgrade was done to promote sustainability by lowering the carbon footprint, resulting in reduced costs and speedier transactions. We are now in the midst of a worldwide energy crisis. As a result, an energy-efficient PoS system will undoubtedly entice additional users.
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