Ethereum Merge is Fruitless before Sharding Upgrade
The approaching proof-of-stake transition of Ethereum is known as an attention-seeking subject nowadays. Apart from the Ethereum Merge, the network has scheduled another less famous update to minimize the transaction charges as well as elevate the scalability. After the Merge, the update called EIP-4844 is considered to become the impending Ethereum fork. A certain inclusion in it will be proto-danksharding with which the rollups of Layer 2 could be scaled in a 100 times more convenient way.
ETH Users’ Expectations for Improved Scaling and Low Fees May Be Met With after Sharding, Not Ethereum Merge
Moreover, it can lead to the enactment of complete sharding. This is the main thing as the present roadmap of the network bets on the developing ecosystem of Layer 2 that is focused on fee reduction as well as scalability until the implementation of sharding. It is predicted that the Layer 2-based chain will turn into the shards of the network in the future, permitting the computing load of Ethereum to be disseminated between the network of little chains operating simultaneously.
According to the estimates regarding the L2 charges, the average fee of a token transaction on the top rollup networks of Ethereum is nearly $0.1 while swaps charge up to $0.15. the chief scientist and co-founder of Ethereum, Vitalik Buterin, stated that on L2 the cost of $0.05 is not acceptable. The Ethereum Merge counts as a considerably important upgrade in the history of the crypto industry. The effective transition to proof-of-stake will be determined by many factors and the price of Bitcoin (BTC) and Ether (ETH) may have a significant impact in this respect.
Some Say Ethereum Will See a PoW/PoS Split after The Merge
A veteran crypto investor as well as Ethereum proponent, Chandler Guo, mentioned formerly in August that there was a 10% probability that the network of Ethereum will split. He additionally disclosed that in such a case, his support will be with a stablecoin that would be proof-of-work fork-based. Several issuers of stablecoins asserted to just accept redemptions from the standard proof-of-stake chain of Ethereum. Hard forks may be perplexing for normal investors.
As a result of the upcoming Merge – which is planned to occur in September’s mid – the energy usage of the network will plummet by up to 99% and new Ether tokens’ issuance will decline by nearly ninety percent. Nonetheless, several community participants have some imaginative expectations regarding the upgrade saying that it will thoroughly enhance the scalability of Ethereum along with minimizing the network costs.
