2 years ago
Summary:
- The Ethereum Foundation released an update to debunk misinformation regarding the Merge.
- ETH’s power from Proof-of-Work to Proof-of-Stake is scheduled to hap connected oregon astir September 15.
- Final tests and upgrades are successful the works aft a palmy Merge connected the Goerli nationalist testnet.
- False statements person flooded the crypto assemblage successful the weeks starring up to the watershed moment.
- Some misconceptions revolve astir reduced state fees and accrued transaction speeds.
The Ethereum Foundation shared a enactment connected Wednesday successful a bid to clarify swirling misconceptions successful the crypto assemblage regarding the Merge, Ethereum’s pivotal modulation from a Proof-of-Work statement mechanics to Proof-of-Stake.
Recently, halfway ETH developers revealed that the Merge would hap connected oregon astir September 15, 2022, erstwhile the network’s full terminal trouble (TTD) kicks in. The erstwhile day was acceptable for September 19 but developers stated that this day could yet change.
The power to PoS marks a watershed infinitesimal for some ETH and the broader crypto assemblage arsenic Ethereum is 1 of the largest blockchains successful existence. Some societal media users person adjacent compared the Merge to Bitcoin’s halving, an lawsuit that happens erstwhile each 4 years erstwhile BTC mining rewards are slashed successful half.
Wednesday’s enactment addressed 8 misconceptions astir the Merge ranging from state fees to staking rewards.
8 Misconceptions On Ethereum’s PoS Upgrade
The ETH instauration noted that the merge presents a power successful statement mechanism, not an summation successful web capacity. As such, the modulation to PoS would not effect successful reduced state fees, per Wednesday’s update.
Seven different misconceptions were besides addressed and debunked successful the update.
- Transactions volition beryllium noticeably faster aft The Merge – False
- You tin retreat staked ETH erstwhile The Merge occurs – False
- Staking APR is expected to triple aft The Merge – False
- The Merge volition effect successful downtime of the chain – False
- When withdrawals are enabled, stakers volition each exit astatine once – False
- Validators volition not person immoderate liquid ETH rewards til the Shanghai upgrade erstwhile withdrawals are enabled – False
ETH Daily Chart (Source: TradingView)
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