The Ethereum community went via its largest improve in historical past, transitioning to a Proof-of-Stake consensus algorithm.
Instantly after that, customers are discovering intelligent methods to commemorate the occasion and to develop into a part of historical past.
- On this specific case, a consumer spent a whopping 36 ETH value about $60K at present charges to mint the very first-ever non-fungible tokens on the PoS-based Ethereum community.
- That is what the NFT appears to be like like:
- Minted at block peak 15537394, the picture itself represents a panda face and is named “The Transition.”
- There’s a sure irony in the truth that somebody paid a lot to mint an NFT, but it surely’s additionally necessary to notice that the Merge itself doesn’t do a lot to lower gasoline charges on Ethereum’s community.
- This is among the hottest misconceptions concerning the occasion.
- The Merge has modified the general consensus algorithm and doesn’t broaden the community capability – because of this it received’t considerably scale back the gasoline charges.
- Nonetheless, there are a number of scaling options which can be to be deployed at a later stage to sort out this specific problem.