The meaning of "In effect"

Question

Guys, you can find the definition and meaning of this phrase in the following link:

http://idioms.thefreedictionary.com/in+effect

It seems to have two meanings that are different:

1. In essence (ذاتا، اساسا)

2. Particular effect (اثر خاص داشتن)

Do you have the same understanding? Do you have any suggestion for its Persian alternative, specially in the following instance?

Example:

In effect, while this level of oxidation would have a limited effect on a bulk material, the impact on a NW is more significant.
 

Answer 1

سلام - با توجه به قسمت زیر از وبستر بنده این ها رو پیشنهاد می کنم :

در واقع / در حقیقت / در عمل

in effect

adv. in actuality or reality or fact (Webster)