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The Decline Of Proof-of-Work Is Here – Big Eyes Coin Could Outperform Bitcoin and Dogecoin

Published 08/22/2022, 01:00 PM
Updated 08/22/2022, 01:32 PM
© Reuters.  The Decline Of Proof-of-Work Is Here – Big Eyes Coin Could Outperform Bitcoin and Dogecoin

In the cryptocurrency market, there are two modes of consensus that the majority of cryptocurrencies abide by. They are Proof-of-Work (PoW) and Proof-of-Stake (PoS). Newer cryptocurrencies often gravitate towards PoS because of its nominal fees, faster speeds, high security, and reduced impact on the environment.

Bitcoin (BTC) is the pioneer of the crypto world. Its PoW consensus paved the way for thousands of cryptocurrencies to follow. Its popularity is unfathomable as its market capitalisation makes up almost half of the whole crypto market. However, its inception was thirteen years ago, and the crypto market has come a long way since.

Dogecoin (DOGE) also utilises a PoW consensus algorithm notorious for low transaction speed and high carbon emissions. The loveable Doge meme inspired Billy Markus and Jackson Palmer to construct the first meme coin in existence. As you know, Dogecoin grew far beyond their expectations and became somewhat of a pioneer in the meme coin market.

So, how does this affect Big Eyes Coin (BIG), and how can it outperform the pioneers of the crypto and meme coin market? Big Eyes Coin is built on Ethereum (ETH). Although Ethereum is currently a PoW platform, it is gearing up for a switch to PoS. It is the most anticipated event the crypto market has seen this year.

Big Eyes Coin could potentially hit $50 million, catapulting it up the crypto market. Its dedication to one of the most crucial parts of our environment, the oceans, has garnered attention from crypto enthusiasts. Environmentally friendly cryptocurrencies are the way forward in today’s world.

Big Eyes (BIG) Launch Is Just Around The Corner! Big Eyes Coin has constructed an ecosystem that benefits the user heavily. 90% of the tokens will be available at launch to give control of the platform to the community. A step-by-step guide will show you how to buy BIG, later in the article. The remaining 10% of the tokens will be split equally between a charity and marketing wallet.

Staying relevant in the crypto space is essential for success. That is why Big Eyes Coin has a marketing wallet that can help it stay in touch with the latest trends. When you examine the Big Eyes Coin mascot, you will see that it has an Anime design. Anime is becoming an increasingly popular genre of comic books and cartoons.

Currently, 40-60% of the world’s population watches or reads Anime, so it is no surprise that Big Eyes Coin is catering to this market. Big Eyes Coin has plans to create comic books, as seen on its Instagram page, and merchandise with the Big Eyes mascot. It could potentially see a new wave of users gravitate towards the Big Eyes Coin platform.

These new users can immerse themselves in the Big Eyes Coin NFT events held each season. Big Eyes Coin aims to have an NFT collection in the top ten projects, which will make the NFTs owned by users valuable. Those holding NFTs will have access to a plethora of events, including the exclusive Big Eyes Sushi Crew, as seen in the picture below.

Big Eyes Coin will remove tax from buying and selling on the platform so you can save more of your BIG tokens. Additionally, there will be $2 million locked in liquidity for two years to ensure fast conversions. Big Eyes Coin will be available on Uniswap (UNI), one of the largest decentralised exchanges (DEXs).

As mentioned above, Big Eyes Coin will build on the Ethereum blockchain. Although Ethereum is currently using PoW, the upgrade to PoS could be as soon as September! PoS is now considered the favourable consensus by crypto whales due to its increased transaction speed and heightened security. So, could this mean increased attention for Big Eyes Coin by crypto whales? All signs point to yes.

How To Sign Up For The Big Eyes Coin Launch You can sign up for the Big Eyes Coin launch with just a few clicks of a button. The website is easy to navigate for newcomers to the crypto world. All you need to do is go onto the Big Eyes Coin website and click sign up for launch.

Fill out the relevant information that is required, as seen in the photo below. All you need is your first and last name with a valid email address to become part of the Big Eyes Coin community. It’s that simple!

Will Bitcoin (BTC) Remain At The Top? Anyone who has heard of cryptocurrency will have basic knowledge of Bitcoin. The crypto giant has dominated the market since its inception in 2009. Even in times of hardship, Bitcoin has remained the face of crypto. However, will Bitcoin’s outdated consensus algorithm be its downfall? It is possible.

Bitcoin has recorded a 9.06% decrease in value in seven days at the time of writing. As the maximum amount of Bitcoins available to mine draws closer, miners could look for a new PoW cryptocurrency like Dogecoin. Over 90% of Bitcoins are mined, leaving just 1.8 million!

However, there are a plethora of reasons why Bitcoin users will move away from the Bitcoin platform. The most notable one is the environment. Bitcoin uses an astronomical amount of energy annually, equating to the same amount as Argentina! Excessive energy consumption results in high carbon emissions.

Cryptocurrencies like Bitcoin are being held accountable for their environmental impact. It is one of the reasons why Ethereum chose to switch to PoS. While this is not an option for Bitcoin due to its value being determined by the amount of work it takes to mine a coin, it does not stop the negative publicity around Bitcoin.

Bitcoin users can switch from the PoW platform to a PoS platform like Big Eyes Coin. The new cryptocurrency has the potential to dominate the market through Q4, utilising the upgraded technology of Ethereum 2.0.

The Pioneer For Meme Coins – Dogecoin (DOGE) Like Bitcoin, Dogecoin was the first of its kind to enter the crypto market. Since its inception, there have been over two hundred meme coins that have graced the market. None of them have obtained the same popularity that Dogecoin has. Dogecoin could be an escape for Bitcoin miners as Dogecoin also uses PoW.

Users obtain 6.25 BTC when mining a block of Bitcoin and 10,000 DOGE when mining a block of DOGE. While the prices may differ, Dogecoin has an unlimited supply, meaning users can mine it continuously.

Additionally, Dogecoin has the support of billionaire entrepreneur Elon Musk. Even if you haven’t heard of cryptocurrency, you will know Elon Musk. He has often tweeted his support for Dogecoin, resulting in price spikes. Elon Musk has over 100 million Twitter (NYSE:TWTR) followers, showcasing the effect he has on the crypto market. In particular, Dogecoin.

Recent updates for Dogecoin include a layer-2 network for the Dogecoin platform named, Dogechain. The Dogechain was constructed by DOGE holders and includes games, NFTs, and DeFi for Dogecoin users. Could this development help Dogecoin climb further up the crypto market?

To Summarise It has been over 13 years since the introduction of Bitcoin. The mode of consensus that Bitcoin and Dogecoin use could be classified as outdated, leaving room for PoS platforms to outperform them in the crypto market. Even those with little sympathy for the environment will gravitate towards PoS due to its high speeds, nominal fees, and heightened security.

Big Eyes Coin is a new innovative platform that has constructed an ecosystem that appeals to a massive target audience, with a plethora of tools at their disposal. If the PoW consensus is outdated, Big Eyes Coin could outperform Bitcoin and Dogecoin when it launches.

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