ETHUSD | review| Eight myths about Ethereum The Merge

18 авг. 2022 г.

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📌Ether is consolidating above the support level of $1,760, the nearest significant resistance is around $2,000. This is a psychological level, I wrote about it earlier.

📌We all know that there will be a transition to Pos soon - Already on September 15, Ethereum will switch to the PoS algorithm. The developers talk about Napoleonic plans, and Vitalik Buterin assures that this is only the beginning of a long journey.

Here are eight myths about Ethereum The Merge (Moving to POS)

📌Myth: You need 32 ETH to run a node
✖True: Anyone can synchronize their own node. A new node without ether will just check and confirm blocks, it will not be possible to add new blocks - this is a function for validator nodes.

📌Myth: Fork will reduce commission fees (gas)
✖True: The merger is a change to the consensus mechanism, not an expansion of network capacity, and will not result in lower gas fees.

📌Myth: Ethereum transactions will become faster
✖True: The speed of transactions will remain the same, perhaps slightly increase.

📌Myth: You can withdraw staked ETH right after the fork
✖True: It will be possible to get ETH from staking only 6-12 months after the Shanghai update.

📌Myth: Validators will not be able to withdraw rewards until the Shanghai update
✖True: Staking rewards will be locked, only commission income can be withdrawn

📌Myth: When the ETH withdrawal is opened, there will be pressure on the price
✖True: ETH withdrawals will be restricted for security purposes.

📌Myth: After the fork, the yield in ETH will increase by 3 times
✖True: More recent estimates predict a 50% increase in post-merger returns.

📌Myth: A fork will lead to chain downtime
✖True: The Merge upgrade is designed to move to Proof-of-Stake with zero downtime.

Write your comments, do you support the transition at all or not?👇