NFT and DeFi-based projects Choose Ethereum Blockchain: Three reasons why
Although Ethereum has apparent flaws, such as huge gas taxes and environmental concerns (massive energy consumption), it is still the first choice for many hopeful crypto projects. In this editorial, we will go through the main reasons why Ethereum still reigns, despite available alternatives such as Cardano (ADA) and Solana (SOL), by looking at the new upcoming project, Big Eyes (BIG).
Ethereum (ETH): See The Throne
Uniswap (UNI), the largest decentralized exchange (DEX), is built on Ethereum (ETH) blockchain, and since its inception in 2018, it has been the primary engine for DeFi token trade. Unlike its counterparts – centralized exchanges such as Coinbase or Binance – trading on DEX takes place entirely at the chain. What this means is that every transaction is settled on Ethereum when one Uniswap trade is made.
Such trading has significantly accelerated the use of Ethereum because there are no platform fees or intermediaries. Then many projects choose Ethereum to be listed on Uniswap and thus appeal to a crypto flock.
Another reason is that with ETH you can wrap it up and make what is known as wrapped ETH or WETH. WETH represents a way to use ETH as an ERC-20 token, and since DeFi tokens are built on Ethereum’s ERC-20 standard, it is easy to replace one token with another.
Finally, blockchain transaction fees on Ethereum can be high, but there is also a hidden benefit to it. Since fees are ultimately paid to miners, this means that the higher the fees, the more incentivized the validators are to secure the Ethereum blockchain. With numerous hacks and phishing attacks occurring in the crypto area, network security is critical to the long-term health and success of the blockchain.
A similar logic applies to NFTs. Due to Ethereum’s highly secure network and data architecture, Ethereum blockchain leads NFT projects running on it as ERC-721 coins. On top of that, it gives NFTs huge exposure to a large and growing market. Finally, NFT systems are compatible with Ethereum virtual machines, so Ethereum wallets like Metamask can support them.
Big Eyes (BIG): The project that has it all
The Big eyes (BIG) the project understands the aforementioned nuances and has therefore chosen the Ethereum blockchain to drive the further development. according to Big eyes (BIG) whitepaper, is the main emphasis on giving society their great opportunities for DeFi engagement, such as return farming and liquidity pools and hypergrowth, by promoting cute cat themes NFTs.
Although there are some risks to build on Ethereum (ETH)Like transaction costs, these are reduced by the fact that Big eyes (BIG) plans to launch their token on Uniswap. The decentralized exchange is set to attract more users Big eyes (BIG) project due to the many DeFi services one can perform on the chain.
The BIG the token depicts a cute little cat reminiscent of Japanese anime comics, where the association with the character plays the most important role for society in supporting and sustaining the project’s future. There will be 200,000,000,000,000 tokens, with 90% released to the public after the pre-sale phase is over. An additional 5% will be used to support charities that protect marine life, while the rest will be put into the project’s marketing wallet.
The BIG token is crucial for embossing, selling and trading NFTs and entering the broader Big Eyes DeFi ecosystem. If you are interested, click on the website below to find more information about it.
The result
At the end of the day, each project has its own path, and I’m in no way trying to argue that Ethereum (ETH) is the only available option. However, it enables a wide range of options to integrate DeFi and NFTs services; it is highly protected against malicious attacks and provides enormous exposure to a large and growing market in both the NFTs and the DeFi sector.
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