In an article shared from Ethereum’s official forum, the truth about the upcoming Merge update was conveyed about the important misconceptions.
- Known Wrong: 32 Ethereum stakes are required to become a validator on the Ethereum network.
- This is known wrong. Anyone can act as a validator on the Ethereum network. Ethereum It has 2 different types of nodes. One of them is nodes that find blocks, while the other is nodes that increase the security of the network and verify transactions. If you stake 32 Ethereum You have a chance to find a block and thus protocol award you can win. For this Proof of Work While the (Proof of Work) system requires graphics cards and powerful energy sources Proof of Stake 32 Ethereum stakes are required in the (Proof of Stake) system. However, in addition to this system, most nodes used in the network, 1-2 TB of available storage and internet connection done by computers. Users do not have to pay any extra expense to become this type of validator. Such validators cannot find new blocks and earn money, but they can verify existing blocks and contribute to the security of the network. Possibility for any user to run their own node, To maintain the decentralized nature of the Ethereum network absolutely necessary.
- Known Wrong: The Merge will reduce transaction fees on the network.
- Transaction fees are determined by the intensity of demand on the network. Merge eliminates the use of Proof of Work (PoW) and switches to Proof of Stake (PoS) for consensus. However, it does not significantly change any parameter that directly affects network capacity or throughput.
- Known Wrong: After Merge, transactions on the network will be noticeably faster.
- Transaction speed on the network, although with some minor changes at layer 1 (Layer 1) will mostly stay the same. Transaction “speed” can be measured in a number of ways, such as the time it takes to be included in a block and the time it takes to finalize a transaction. After Merge both of these trading moves change a bit, but not to the extent that users will notice.
- Known Wrong: When the merge occurs, you will be able to withdraw the Ethereums you previously staked.
- Withdrawals via Stakes will not be activated with The Merge. Shanghai upgrade will enable validator withdrawals. With the Shanghai update after the Merge, it will be possible to withdraw the staked Ethereums.
- Known Wrong: Validators will not receive any staking rewards until the Shanghai update.
- For Ethereum staking validators staking rewardswill be credited to mainnet accounts controlled by the verifier itself and available instantly.
- Known Wrong: Once Ethereum withdrawals via Stakes begin, all validators will be able to withdraw at the same time.
- Verifier withdrawal powers will be limited for security reasons. Shanghai update staked with It will be possible to withdraw Ethereums and a withdrawal authorization procedure proportional to the total staked amount will be applied in order to meet the heavy withdrawal requests during this period. For exampleIn case of 10 million locked Ethereum, it will be possible to withdraw 43,200 Ethereum per day via staking. This rate limit is set based on the total ETH staked and prevents a mass outflow of funds.
- Known Wrong: Stake reward APR (Annual Percentage Rate) is expected to triple after The Merge.
- More recent forecasts, post Merge Not a 200% increase in APRforecasts an increase of nearly 50%. APR for stakeholders is of course expected to increase post-merger. To understand how much, it’s important to first understand where this increase in APR comes from. This income is not provided by an increase in Ethereum issuance. (Ethereum issuance decreases by about 90% after Merge) As you can imagine, the amount of fees a validator takes is proportional to the network activity during the verified blocks. How much is paid by users, the more validators will charge. Looking at recent blockchain activity, about 10% of all gas fees paid are currently in the form of tips/rewards to miners, while the rest is burned. Earlier estimates predicted this percentage to be much higher, calculated when network usage was at an all-time high. If we adapt the 10% figure to the average recent network activity, we get the staking APR will be approximately 50% higher is estimated.
- Known Wrong: The Merge will cause the Ethereum network to be down for a while.
- Merge upgrade, zero downtime It is designed for the transition to a proof-of-stake system with A tremendous amount of work has been done to ensure that the transition to a proof-of-stake system does not disrupt the network or users. Merge is a cumulative measure of the total mining power spent building the network. terminal total difficulty (TTD) will be triggered. When the time comes, there will be a smooth transition from a proof-of-work block to the next block running a proof-of-stake system. There is no network outage for Ethereum.