The hype around the approaching Ethereum Merge, which takes into account the merger of a couple of blockchains including Beacon Chain and Ethereum Mainnet, is increasing day by day. However, there are some misconceptions regarding this significant event that should be cleared thus Ethereum.org has released notes to specify the 8 prominent such misconceptions. The blockchain platform has provided a complete guide toward the upcoming Merge in which it discussed the most prevalent misconceptions.
The Major Misconceptions about Ethereum Merge
1: 32 ETH Is Required to Be Staked to Operate a Node
A top misconception is that there would be a requirement to stake 32 ETH to operate a node however this is not true has anyone is allowed to operate a node. The platform asserted that this has neither happened in the past and there are no chances for it to occur following The Ethereum Merge.
2: Gas Fees Will be Minimized by The Merge
While responding to this misconception, the venue mentioned that The Merge does not have anything to do with the expansion of Ethereum’s network capacity thus gas fees will not be reduced after it. In the guide, it was elaborated that gas charges depend on the network demand as well as the network capacity.
3: The Merge Will Speed up the Transfers
Another misconception highlighted by the venue was an increase in the speed of transactions after The Ethereum Merge. It noted that there is a possibility of minor changes however the overall speed of the transfers will largely remain as it is.
4: ETH Can Be Withdrawn by the Consumers after The Merge
The network denied the idea that the customers will be permitted to perform staking withdrawals after the completion of The Merge. It added that the staking withdrawals will be enabled after the next Shanghai upgrade. Signifying that the latest issued ETH will not be liquid during a period of 6 to 12 months after The Merge.
Minor-level Misconceptions in Public
5: No Rewards in Liquid ETH Will Be Offered to Validators Till Shanghai Upgrade
The Platform negated the misconception of no rewards in liquid ETH until the Shanghai upgrade. It mentioned that the validators will be credited with Fee tips/MEV on the Mainnet-based accounts.
6: All the Validators Will Leave Simultaneously after the Availability of Withdrawals
The company refuted the idea of validators’ exit after the availability of the withdrawals, noting that because of some security reasons the validator departures are rate restricted. It also revealed that incentives will be provided to the validators on withdrawing the staking funds beyond 32 ETH because the respective assets do not add to the profits.
7: APR’s Staking Will Become 3-Times Larger following the Merge
The firm disproved the notion of a 3-times increase in APR’s staking following The Merge and emphasized that the latest and precise evaluations anticipate an increase of up to 50% in APR instead of 200% after The Ethereum Merge.
8: The Chain Will Be Interrupted following The Merge
The forum stressed that the structuring of The Ethereum Merge upgrade has been carried out in such a way that it will experience zero interruption. According to the platform, substantial efforts have been made to guarantee that no disturbance will be posed to the customers or the network while it goes through the Proof-Of-Stake (PoS) transformation.
