Answer:
This period is refereed to as the Great Oxygenation Event.
To begin with the atmosphere became an oxidizing atmosphere from a reducing one. This caused a great extinction event especially for the anaerobic organisms.
The minerals on the surface of the earth became oxidized others forming several oxidized forms such as Fe2+ and Fe3+.
The greenhouse effect on earth was reduced as methane and carbon dioxide levels decreased hence also cooling the atmosphere. An Ozone layer also developed shielding life from ultraviolet sunlight that destroys genetic material. This is believed to be one of the significant factors that allowed life to thrive on land.
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