Ethereum Merge – The Ethereum management the launch date of Ethereum 2.0 for September 6. 2022, according to the announcement, there will be two stages for
the crypto asset to be public in the crypto market.
The first stage is Bellatrix scheduled for September 6, while the final stage, Paris, will happen between September 10th and 16th.
With just a few days to the final stage, the global crypto market is anticipating a new token – ETHW, to be generated after the hard fork once the ETH 2.0 is upgraded.
This merge is expected to improve the Ethereum network, with increased speed, and reduced gas fees among other benefits not leaving out the massive hike in price.
For a long time, ETH has been operating on proof of work which has seen so many problems in this network such as high gas fees, and slow transaction fees among others.
ETH Merge is poised to solve these problems and also initiate a significant shift in the Ethereum ecosystem in space.
What is the Ethereum Merge?
The Merge is the joining of the existing execution layer of Ethereum with its new proof-of-stake consensus layer, the Beacon chain.
It eliminates the need for energy-intensive mining and secures the network using staked ETH. This is a truly exciting step in realizing the ETH vision – more scalability, security, and sustainability.
The merge is a network upgrade that will alter ETH”s common consensus mechanism from proof of work to proof of stake, the Ethereum Merge is expected to happen on September 15, 2022.
What are you expected to do as a user or holder?
Everyone will feel the impact of the Merge going forward, some people may need to take action in the meantime to be fully prepared. The Merge is one of the most significant and anticipated updates in the history of Ethereum.
Users and holders in view
- You must understand that users and holders do not need to do anything to protect their funds entering the Merge
- There’s nothing you need to do with your money or wallet before the Merge if you are a user or holder of ETH, any other asset on Ethereum, or a stalker who is not running a node.
- The history of Ethereum since its creation is preserved and unmodified after the switch to a proof of stake, despite proof of work being replaced. Any money you had in your wallet before the Merge will remain usable after the Merge, you don’t need to do anything to upgrade.
Opportunities around the Ethereum Merge
A significant number of exchanges that are considering their options as regards listing and what they propose to their users following the merge include,
1. Binance
In its recent blog post, has shown its concession about this merge, and any token which would emerge as a result of this would be critically examined and listed.
2. Coinbase
In its recent blog post says, it views this event as a major step towards scaling the adoption of the crypto economy and will support it in a variety of ways that align with its mission to increase economic freedom in the world.
Conclusion on the Ethereum Merge
The Ethereum merge will define a pathway to the flexibility of the crypto, and empower its users for rapid experience and viable economic prosperity.
