YIN Finance

In recent weeks, we have been seeing the wild swings of Ethereum price. ETH price has increased over 12% over the past week, with a jump of over 2.5% in the past 24 hours. What exactly is going on behind the scene on this price movement? The force that is driving this price movement could be the anticipation on the The Merge that is estimated to take place soon in the next few days. Below we will briefly discuss on The Merge, how it is perceived and what it means to our YINJA NFT.As you may already read or heard elsewhere, The Merge is an upgrade of ETH chain, switching from Proof-of-Work (PoW) to Proof-of-Stake (PoS). The current mechanism of PoW is consuming large amount of energy and is deemed to be environmental unfriendly. Other than that, before the upgrade, transaction time as well as gas fee on ETH chain has spiked significantly when the on-chain activities increases, to a point where it is unbearable and impossible for users to execute any transaction. This situation has led to much growth in other blockchains, namely Polygon, BNB chain, Arbitrum and etc.While The Merge has yet to be completed, there are some promising benefits announced. For PoS, miner only have to stake 32 ETH to help run the chain instead of consuming electricity with tons of graphic cards. Thus, the energy consumption of PoS will be significantly lower than PoW, as low as less than 1% of energy used in PoW. This will prove to be more environmental friendly than PoW. Other than that, the transaction time and cost will be dropped to an acceptable level with affordable gas fee. All in all, this will put ETH chain in advantage compared to other L2 chains, considering the high number of on-going developments on ETH chain.YINJA Club NFT will be launch on BNB chain. With almost double the active addresses on ETH chain, BNB chain has grown to be one of the most popular chain on DeFi / GameFi / NFT space. BNB Chain recorded a high of 16,262,505 transactions on Nov. 25, 2021. Ethereum network posted its record high number of transactions ( 1,716,600) on May 9, 2021. In the past, BNB chain has been able to grow with its low gas fee and high speed of transaction. It also has put in much effort in cultivating the ecosystem by encouraging developers to set base in BNB chain and running incubation program to attract startups. While the outcome from The Merge is still an unknown, BNB chain at least is performing and being stable to pave for our upcoming YINJA NFT minting at the end of September 2022!

The Merge and YINJA Club NFT

YINJAClub

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