Ethereum Blockchain Developments & How They Impact Black Stallion

Hello Black Stallion community, we hope you’re all well!

If you’ve read our WhitePaper, you’d see that on the first page, it says: “A blockchain-based future and environment”. The future is of great importance for our project — especially when the development of blockchain technology is concerned. Now, we’re built on the Polygon Network which itself is an abstraction of the Ethereum blockchain that connects Ethereum-based projects. This is the reason why we’re paying very close attention to Ethereum since it remains the home of most NFT activity.

In today’s article, we will explore the Ethereum blockchain’s future developments and how those developments will impact the NFT world and more specifically, our platform.

Ethereum — Now and Looking Ahead

Ethereum is one of the most recognizable crypto projects in the world. In terms of market capitalization, it’s second only to the “OG”, Bitcoin.

According to the Motley Fool Ethereum hosts around 3000 projects on its blockchain. As NFTPlazas research shows, OpenSea, the largest NFT platform, is based on Ethereum and is a big reason why the network is the leader in NFT trading volume.

So, not only is it recognizable; Ethereum is rather important for the world of crypto.

Despite its importance, in the past, this project suffered from some issues, namely high gas fees and low transaction throughput. High gas fees aren’t that big of a deal anymore.

So, if you wanted to make a transaction on the Ethereum network, the fees were probably going to cost you tens of dollars. This made small or even medium-sized transactions difficult, as it didn’t make financial sense to send someone $50 with a $19 fee.

Moreover, the Ethereum network is still kind of slow. It currently supports only between 15 and 45 transactions per second. That means that your transaction might take a long while to be executed.

In September of 2022, Ethereum switched from the proof of work model to a proof of stake consensus. This addressed some environmental concerns of the PoW consensus model. Moreover, expanding and securing the network, along with offering passive income opportunities, is much more accessible with the PoS consensus model.

Additionally, the implementation of sharding in 2023 should address the transaction throughput issue. Sharding would enable the network to handle tens of thousands of transactions per second.

Greater speed, along with the proof of stake model, will make the Ethereum network more affordable and scalable.

What This Means for NFTs and Black Stallion

So, what is the possible impact of this great transformation on the NFT market in general and Black Stallion in particular?

First, it will bring more attention to projects and chains that are based on PoS, such as our project that’s based on the Polygon Network (which itself is PoS). You can surely imagine millions of users gradually becoming aware of the proof of stake consensus model and various projects based on it.

Additionally, since Ethereum is the biggest NFT player on the market, and has transitioned to PoS, that means that the attention of those who’re looking for promising projects will shift in that direction, and again, probably towards projects such as ourselves.

Since it will be faster and more scalable, it is quite probable that Ethereum will have lower NFT minting fees. This, in turn, should help bring more people into the NFT space, as the key barrier to entry would be removed. And finally, again, this has a consequence in more people looking at other NFT projects.

And it’s really simple to understand why this happens. When an activity is convenient, fast, and not costly, more people are likely to undertake it. To give you an example, think about building a house:

• It costs a lot of money and takes a long time.
• What if the cost decreased by 80% and the speed increased by 80%?
• More people would build new housing.

NFT projects should benefit greatly from Ethereum’s progress.

Ethereum’s move to a PoS model could bring more capital to the whole space of PoS, as PoS is more eco-friendly and large institutions place a high value on that. Since Environmental, Social, and Governance (ESG) funds are becoming more common, and more financial institutions are allocating more to environmentally friendly investments, Ethereum 2.0 could garner more institutional support. This influx of capital would benefit the crypto space tremendously, especially trending areas like NFTs and the metaverse.

Bright Future Awaits Black Stallion

Simply put, Ethereum’s beneficial developments have and will benefit Black Stallion.

Since the Ethereum chain is PoS, that makes cross-chaining possibilities much more feasible which means that more people will feel comfortable using the Black Stallion platform directly or having some indirect contact with it through cross-chaining.

This should expand the potential of Black Stallion and could even accelerate its own development, and who knows, maybe someday, some breakthrough in the Black Stallion tech gets taken up by Ethereum itself.

About Black Stallion

Missions, visions, and focal points of BLACK STALLION are to Design and Develop its own Metaverse, own wallet, Metaverse play to earn games, integrate an NFT Marketplace and staking, and merge the gaming industry with cryptocurrencies by establishing an ecosystem controlled by users that enables them to transact both ways through the BLACK STALLION token, allowing gamers, investors, and content producers to earn money while immersed in a unique environment.

The BLACK STALLION token is a cryptocurrency that aims to break down barriers in the video game industry by allowing users to trade within the game using BLACK STALLION Crystals. Players can sell items they’ve discovered, produced, or earned in the game to each other. BLACK STALLION platform is free to play and will enable players to make money as they play.

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