By EWN •
Published: 13 Nov 2022 • 9:30
Amid Ethereum’s (ETH) return to green, the blockchain’s co-founder, Vitalik Buterin, announced an updated roadmap for Ethereum’s development.
Named mysteriously as ‘The Scourge’, this new third phase will be followed by previously known stages creatively named The Verge, The Purge, and The Splurge.
Welcome news for many, The Scourge will impact Ethereum-adjacent crypto projects running on the blockchain, such as Big Eyes Coin (BIG).
One of Ethereum’s biggest problems- MEV (meaning Maximal/Miner Extractable Value) refers to the highest value that can be extracted from Ethereum’s users by censoring transactions, re-ordering, and inserting within blocks.
Following the blockchain’s “Merge” (a move from the proof-of-work to proof-of-stake consensus mechanism), this problem was only exasperated. And higher amounts of centralization and censorship occurred on the blockchain.
MEV is often used by validators or bot operators to capture excess value or attack other traders with “Sandwich Attacks”. A Sandwich Attack is when a perpetrator places two transactions before and after a victim’s transaction and can extract MEV by manipulating the price of the asset they are buying.
The word ‘scourge’ relates to a historical term for a whip as an instrument of punishment. Equally, a scourge is also a person or thing that causes great trouble or suffering.
While Vitalik Buterin will not go around whipping people, the phase does aim to eradicate centralization and protocol risks from MEV. The goal is to ‘ensure reliable and fair, credibly neutral transaction inclusion’ and consensus layer.
Buterin’s mission is to ensure that Ethereum has a credibly neutral mechanism (one that does not discriminate against anyone).
Big Eyes Coin, like many other ERC-20 tokens, can only benefit from The Scourge. Already Big Eyes Coin places significant importance on decentralised finance and community governance.
Even in its whitepaper introduction, Big Eyes Coin states it has the ‘express goal of shifting wealth into the defi ecosystem’ to protect the environment. With its community placed at the center of the meme currency function, Big Eyes Coin will have a complex ecosystem in which its users thrive. Some features of this ecosystem include an NFT market, a merch store, fundraisers, social media competitions, and Defi tutorials and how-tos.
For any currency to propel itself to success, it needs an ecosystem that self-propagates. And a self-propagating ecosystem is only possible when transactions are fair and decentralsed. This is why Big Eyes Coin understands the importance of a well-designed ecosystem that generates wealth fairly for both its users and charity projects.
Already Big Eyes Coin’s decentralised community has proven to be immensely popular: garnering nearly $10,000,000 in presales and almost 60k Twitter followers, this presale crypto proves that investors want to participate in a fair ecosystem.
With the help of the Ethereum blockchain’s Scourge stage, well-meaning ERC-20 tokens like Big Eyes Coin could see their success significantly multiplied by the proven popularity of decentralisation.
Use the code BUYEYES994 for a BIG bonus.
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