A recent publishing from the Ethereum team debunks the common misconceptions about the upcoming merge to a Proof-of-Stake consensus in the following month.
- The biggest point made was that the merge will not reduce gas fees, the article states that “the Merge is a change of consensus mechanism, not an expansion of network capacity, and will not result in lower gas fees.”
- Transaction speeds were also discussed, in that they will not improve “in a way that users will notice….historically, on proof-of-work, the target was to have a new block every ~13.3 seconds. On the Beacon Chain, slots occur precisely every 12 seconds, each of which is an opportunity for a validator to publish a block…On proof-of-stake blocks will be produced about 10% more frequently than on proof-of-work. This is a fairly insignificant change and is unlikely to be noticed by users.”
- It also stated that when staked ETH becomes available for withdrawal after the Shanghai upgrade, there will be validator exit rates. Users are also incentivized to keep funds stakes to reap the full benefits of the yield provided.
- There will also be no downtime when the merge comes, one block will use proof-of-work and when the TTD is reached, the next block will use proof-of-stake which already has numerous validators on the network.
See Related: Ethereum Proof-of-Stake Merge Set For Mid-September
