The Ethereum community went by way of 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 grow to be a part of historical past.
On this specific case, a consumer spent a whopping 36 ETH price 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, nevertheless it’s additionally necessary to notice that the Merge itself doesn’t do a lot to lower fuel charges on Ethereum’s community.
This is without doubt one of the hottest misconceptions concerning the occasion.
The Merge has modified the general consensus algorithm and doesn’t increase the community capability – because of this it gained’t considerably cut back the fuel 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.
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