First of all, that is a lot of money to pay for gas fees to mint an NFT, but would you like to know what kind of NFT this person paid such amount for? Well, this person paid to mint the very first NFT on the Ethereum blockchain as it transitioned and made its change from the proof of work mechanism that we used to know to a new mechanism called the proof of stake. This is regarded to be history, because, all previous NFTs that got minted off the blockchain were minted on Ethereum Blockchain running on proof of work mechanism.
The Transaction
The Ethereum Merge we have been waiting all these years for, finally came live on the 15th of September, the time we have all been waiting for. It wasn’t postponed, it happened, so good bye to Ethereum Miners. I feel kinda sad for them, because that is like taking away their job. If they could sell the mining machines they can sell them and buy ETH to stake so they can be proof of stake validators and still earn ETH. There were so many speculations surrounding the merge, some of us thought the price of ETH will skyrocket because it was expected to change the world of crypto. But the price of ETH fell after the merge,well that is not the end of the world.
The merge was expected to reduce the carbon foot print of Ethereum by 99% because complex mining machines won’t be used anymore to mine ETH off the blockchain and these machines consume electrical energy. So this is a big deal for the Ethereum community, so having someone mint an NFT off the blockchain on his new mechanism which is the proof of stake mechanism, is having a part of history. This person obviously didn’t care about the gas fees, just wanted to own a good art of history.
The Last POW Block NFT
Just as someone paid 36 ETH to pay for the first NFT on the proof of stake mechanism, someone also paid 30 ETH to mint an NFT so as to own the last piece of an NFT minted off the Ethereum blockchain in the proof of work mechanism. The block number followed up like this, the last block off the Ethereum proof of work mechanism is 15537393, this was the last block on the proof of work mechanism, so the next block on the new chain mechanism is 15537394 and it’s the first in the new mechanism and it’s named the transition. These two people own part of history, people usually care more about the first and last part of history.
Posted Using LeoFinance Beta
Posted Using LeoFinance Beta
I'd rather run a validator for 32ETH...
Same thing I thought, saves a lot more
Yay! 🤗
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