Will Big Eyes Coin Reach the Success of Ethereum and Monero?

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Suppose you’ve heard about the upcoming so-called Merge. In that case, you might be wondering what this means for you, regardless of whether you are extremely into cryptocurrency and keep up with all the most recent developments in the field or own a small amount of cryptocurrency through a platform like Coinbase.

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The “Merge” is a significant event that the cryptocurrency community is anticipating with excitement as it might enhance prices over time and fundamentally alter the course of cryptocurrencies.

The Ethereum (ETH) blockchain, which powers the second-largest cryptocurrency and other components of the crypto ecosystem, including non-fungible tokens, has undergone an upgrade called The Merge (NFTs). September is the anticipated date.

The Ethereum merger, however, will have a significant impact on the ETH token and the tokens of platforms that use it, such as Polygon Matic.

The performance of the Ethereum blockchain is directly associated with the performance of cryptocurrency tokens.

With the eagerly anticipated merger, the Ethereum blockchain would switch from the PoW consensus mechanism to the environmentally friendly PoS.

Currently, nodes are computers that are a part of a huge network — compete with one another to solve challenging math problems, which is how the Ethereum blockchain, like the Bitcoin blockchain, operates. Those that are successful can then mine the following block of a transaction to produce new coins.

With the upgrade, Ethereum will switch to the proof-of-stake mechanism, which uses less energy and is better for the environment. It involves choosing nodes using an algorithm that favors nodes with higher amounts of a network’s currency.

In other words, they are rewarded for their “stake” in the network rather than for the computing power awarded in the proof-of-work method.

What does Monero’s upgrade include?

Innovative cryptography is used by Monero (XMR) to provide its users with a high level of privacy and security. Key characteristics of the cryptocurrency include

Bulletproofs: proofs with zero knowledge permit private transactions on the Monero and other protocols. The transaction is considered confidential when the money being transmitted has been cryptographically hidden.

Ring signatures are digital signatures that can be generated by any group member. Due to ring signatures, it is hard to determine where a Monero transaction originated as it is untraceable.

It’s practically impossible to identify which key (from that set of keys) was used to construct the signature. 

Stealth addresses are unique addresses created on demand for every new transaction.

An individual using Monero can publish a single address while receiving any incoming money at several addresses. The user’s published address cannot be traced back to those other addresses (or any other transaction address, for that matter).

The address where the payment was sent is only known by the sender and the recipient making all transactions unlikable.

If you are unfamiliar, the well-known cryptocurrency Monero (XMR), which focuses on privacy, has recently released to its network Monero GUI 0.18.1.0 ‘Fluorine Fermi.’

Monero, an open-source project whose native token is XMR, first appeared as “Bitmonero” in 2014. XMR is a private, secure, and untraceable cryptocurrency that maintains the confidentiality of financial transactions.

The upgrade was…