It’s 2022 and Ethereum is finally ready to hit the update. For the unknowns, Ethereum is a decentralized blockchain that supports smart contracts. It has a cryptocurrency called ether, which is the second-largest cryptocurrency in the world. To validate every transaction on the blockchain, Ethereum currently uses a process called ‘Proof of Work’.

If you haven’t already, click here to understand What is Proof of Work?

Proof of Work, a bitcoin native process, essentially means that to validate each transaction, miners have to solve some complex mathematical problem.

The problem with proof of work is that it’s not scalable and it is not sustainable. Proof of work consumes a lot of energy and also leads to slow speed in transactions. Hence, the developers decided to shift to a better concept called ‘Proof of Stake’.

Read about What is Proof of Stake? here, it will give you a comprehensive idea of what this event is all about.

Proof of Stake is a process to validate transactions where miners would stake their native crypto. It makes the network accessible to small miners, is more eco-friendly, and also makes transactions speedy.

The whole upgrading process of Ethereum to Ethereum 2.0 which would shift the validation process from ‘proof of work’ to ‘proof of stake’ is known as ‘The Merge’. It’s called ‘the merge’ because the current beacon change would merge with the Ethereum chain that we know of today without changing anything, hence giving Ethereum a new life. Mainnet will bring the ability to run smart contracts into the proof-of-stake system, plus the full history and the current state of Ethereum, to ensure that the transition is smooth for all ETH holders and users.

Firstly, the Ethereum upgrade would help developers to scale and speed up the transactions on the chain. This would result in bringing back projects which migrated to other layers 2 solutions such as Polygon.

The upgrade would lower the gas fee and the energy consumption on the network by 98%.

If the upgrade is successful, it would lead to the wider common adoption of the chain

As the upgrade would be new, the network would take time to adjust and hence would lead to congestion on the chain.

A few features, such as the ability to withdraw staked ETH, will have to wait for a little longer after ‘The Merge’ is complete.


The Ethereum website states that current ETH holders don’t need to do anything around the merge. They may get more involved in the upgrade through staking or helping to test the upgrades, but the holdings remain the same. It is speculated that the merge will lead to an increase in activity on the ethereum blockchain, leading to an increase in demand, hence the price of ETH. However, some experts believe that ETH's current market price already factor's in this event to a great extent, hence the price jump will not be very significant.

Ethereum’s current $150 billion market cap would entirely depend on how smooth the upgrade is. It shall also include the thousands of businesses that run on the chain, with a million active users making the use of the chain and developers that are building around it. It is indeed one of the most remarkable events in the history of cryptocurrency and would be deemed to be highlighted and looked upon in the near future as well.

Despite months of delay, The Merge is finally here. But what does it mean? Will it impact gas fee and transaction times?

What is ‘The Merge’? Everything you should know about Ethereum’s long-awaited upgrade

What is ‘The Merge’? Everything you should know about Ethereum’s long awaited upgrade

In the world of cryptocurrencies, an "airdrop" is a commerce campaign when a blockchain assignment gives away complimentary tokens or coins to the public. An airdrop is typically conducted to spread awareness of the project and to create buzz.

Airdrops in crypto are free tokens that are given to users as a way to promote a new cryptocurrency. For example, if new crypto is launching, they may airdrop tokens to users of a popular crypto wallet as a way to generate interest and awareness. People who have a specific quantity of another cryptocurrency, such as Bitcoin or Ethereum, are typically eligible for airdrops. There are multiple distinct approaches for obtaining airdrops. The most common is to simply hold the required cryptocurrency in your wallet at the time of the airdrop. Some airdrops will require you to sign up for a mailing list or complete other simple tasks. It's possible to acquire free cryptocurrency via airdrops.

Token distribution methods termed "airdrops" have become increasingly common in the cryptocurrency world. Many projects have used airdrops as a way to give away tokens to early adopters and build a community around their projects. But who founded airdrops in crypto? The first airdrop in the cryptocurrency space was conducted by the Bitcoin project. In 2013, they airdropped 50 bitcoin to people who signed up for the airdrop. This was encouraged to raise interest in Bitcoin and educate people about it. Several more projects have since carried out their airdrops in a similar manner. Some notable airdrops include Stellar Lumens, which gave away $125 million worth of their XLM tokens, and TRON, which airdropped $30 million worth of their TRX tokens. Airdrops are a great way to get people involved in a project and create a buzz around it. So if you're thinking about conducting an airdrop, make sure to do your research and plan it out carefully!

An airdrop is a promotional tactic in which people consume free coins or tokens to endorse a brand-new cryptocurrency project. They are often distributed via social media or email and can be claimed by anyone who holds the private key to a compatible wallet. Airdrops are a popular way to generate hype and interest in a new project and can also be used to distribute tokens to early adopters or loyal supporters. Airdrops are complimentary tokens that are offered to cryptocurrency owners. The primary objective of an airdrop is to publicize a fresh cryptocurrency project. While some airdrops are given away to everyone who holds a certain cryptocurrency, others are given away to people who are active in the cryptocurrency community or who hold a certain amount of a cryptocurrency. However, it is important to be careful with airdrops as there have been some scams in the past. Do your homework before claiming an airdrop, please!

A blockchain project can distribute tokens to its community through an "airdrop." Airdrops are usually carried out by the project team to promote their project and increase awareness. There are a few different types of airdrops, but the most common type is where the project team directly gives tokens to the community members.

Airdrops in crypto and NFTs are a way for projects to distribute tokens to the community. If you don't know about them already, you can read more about what are NFTs here. They usually happen when a project launches a new token or coin, and they want to get it into the hands of as many people as possible. The project will often give away a certain number of new tokens to people who hold a certain number of other tokens. For example, if a new project called ABC is launching a new token, they might airdrop it to people who hold the token XYZ. The people who receive the airdrop will then have the new ABC token in their wallets. Airdrops are a great way for projects to build up a community of users and get people interested in their projects. They are also a good way to distribute tokens to people who might not be able to get them otherwise. For example, if a project is only available on a certain exchange, then people who don't have an account on that exchange will not be able to get the token. However, if the project does an airdrop, then those people will be able to get the token.

What are the perks of cryptocurrency airdrops?

An airdrop is a method of giving fresh tokens or coins to current owners of a certain blockchain currency in the world of cryptocurrencies. Airdrops are usually used as a way of bootstrapping a new cryptocurrency project by distributing the new tokens to users who are already familiar with the blockchain platform. There are a few benefits to airdrops that make them an attractive option for both cryptocurrency projects and users. Airdrops can help to create a wider initial distribution of a new cryptocurrency, which can help to create a more decentralized network. By distributing the new tokens to users who already hold another cryptocurrency, the new project can avoid the need to go through traditional channels, such as exchanges, to reach potential users. Airdrops can also help to create awareness and interest in a new project. If users receive new tokens that they are then able to use or trade, they are more likely to take an interest in the project and its long-term prospects. This may aid in developing a user base for the project right away.

What are the risks associated with Crypto and NFT airdrops?

When it comes to airdrops, there are a few risks to consider. You must, first and foremost, be cautious of scammers. There have been instances where people have posed as blockchain projects and offered airdrops as a way to get people to sign up. These scams often result in people losing their hard-earned money, so it's important to be vigilant. Another danger to think about is that you might need to keep a specific number of tokens to be considered for some airdrops. This means that you could potentially end up losing money if the price of the tokens you hold drops below the amount you need to be eligible for the airdrop. Lastly, airdrops can sometimes be subject to change or cancellation. This is often out of the control of the project giving the airdrop, so it's important to be aware that there is always a possibility that an airdrop may not happen as planned. In general, airdrops can be a terrific way to increase your cryptocurrency holdings and receive free tokens. However, it's important to be aware of the risks involved so that you can make an informed decision about whether or not to participate.

List of successful crypto and NFT Airdrops

There have been many successful airdrops in the crypto world. Here are some examples:

The Stellar airdrop was one of the most successful airdrops in crypto history. Over 3 billion Stellar Lumens (XLM) were given away to Bitcoin and Ethereum holders. The airdrop was done to promote the Stellar network and to get more people to use the Stellar platform.

Another successful airdrop was the Binance Coin (BNB) airdrop - Binance, one of the largest cryptocurrency exchanges, gave away free BNB tokens to people who held Bitcoin on the Binance exchange. The airdrop was done to promote the Binance exchange and to get more people to use the Binance platform.

The TRON (TRX) airdrop was also a success. TRON gave away free TRX tokens to people who held Ethereum on the Binance exchange.

In the context of cryptocurrencies, an "airdrop" refers to the delivery of a cryptocurrency token or coin, typically without charge, to numerous wallet addresses. With the help of airdrops, a specific blockchain project can increase its user base and community of supporters while also attracting fresh attention and followers.

Cryptocurrency airdrops are usually announced on a project's official website or social media channels, and require users to take specific actions to receive the airdropped tokens—such as holding a certain cryptocurrency or participating in a social media campaign.

Airdrops in crypto are free tokens that are given to users as a way to promote a new cryptocurrency. For example, if new crypto is launching, they may airdrop tokens to users of a popular crypto wallet as a way to generate interest and awareness.

All You Need to Know about Crypto Airdrops and How Can You Get One - Flint

What are Airdrops in Crypto and how can you get them?

NFTs stand for “Non Fungible Tokens” which are defined as crypto-assets built and stored on the blockchain. For the layman, non-fungible means “unique” and fungible, as we all know means “very similar to one another”. Eg. A $10 bill is fungible in nature as every $10 bill denotes the same value and can be used for the same purpose. NFTs are considered to be a form of digital asset to prove ownership of something in the digital world. As every NFT is unique in nature, it gives a sense of importance and privilege to hold an NFT. 

To understand this, we first need to understand that NFTs are different in terms of the data that is stored on the chain. That makes them “non-fungible”. NFTs signify ownership of a digital asset. NFTs use the ERC-721 and ERC-1155 standards, which allow anyone on the blockchain to issue non-fungible tokens as compared to issuing fungible tokens using ERC 20 standards.

Majorly, Ethereum is considered to be the native platform for storing and building NFTs as it allows easy deployment of smart contracts. Also, Solana has recently captured the eyes of the users and hence NFTs are also being built and stored over the Solana blockchain. 

NFTs are mostly sold on global marketplaces such as Open Sea - the world’s largest NFT marketplace, Rarible, etc. 

Once you have bought an NFT, it can be used for either capital appreciation, displaying it in virtual galleries, or just using it as your display picture. 

Axie Infinity, which is a play-to-earn game,  is one of the world’s most popular NFT projects being built on the Ethereum blockchain that allows users to raise and trade Axies as an NFT. 

CryptoPunks is a PFP project in which there are 10,000 uniquely generated characters. It is also built on the Ethereum blockchain. 

VeeFriends is an NFT project started out by a famous American entrepreneur Gary Vaynerchuk. Holding a VeeFriends NFT would allow users to get access to the only invite holder GaryVee’s conference. 

Decentraland is a complete virtual 3D space in the metaverse. It is built on the Ethereum blockchain that allows users to buy a piece of land in the virtual world as an NFT.

Moonbirds is an NFT project started in 2022, that gives its holders an exclusive club membership. Currently, it has a trading volume of $500 million+.

As NFTs provide the feature of storing data permanently on the blockchain and with their characteristic of being unique in nature, they can be used for storing and verifying individual records which would help prevent forgery. 

NFTs as tokens can be used to prove ownership and Intellectual property rights(IP) of various asset classes and other innovations and inventions. 

As currently being used by VeeFriends, NFTs in the future can be used as a ticketing option to allow entry into specific invite-only events. It would also prevent forgery of the same.

NFTs have also seen a steep adoption curve in the gaming industry. Users can own NFT tokens as a part of their games and hence can be further utilized and traded among the community.

Other use cases of NFTs can include brand promotions in the metaverse, digital identity, etc. 

NFTs stand for “Non Fungible Tokens” which are defined as crypto-assets built and stored on the blockchain. For the layman, non-fungible means “unique” and fungible, as we all know means “very similar to one another”

What are NFTs and where can we use them? | Flint

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