Ethereum Rectifies Misconceptions About The Merge

The Ethereum Merge, the most awaited upgrade to be shortly installed on Ethereum, has given rise to excitement and misconceptions simultaneously. To wipe out the smoke of the predominant misconceptions concerning The Merge, has reflected on them to make the consumers aware of the true information.

Ethereum Negates the Misconceptions of Speedy Transfers and Minimized Gas Fees after The Merge

Some of the Ethereum consumers were happy thinking that the upcoming Merge will improve the speed of the transfers. Though the developers on the network are of the view that an increase of up to 10% will take place in the case of block production while shifting it to PoS, the respective increase is minor and it will not grasp the attention of the consumers.

While answering the rumor of lowered gas charges, as this is a desire of every investor on the Ethereum network, the platform simply noted “no.” It elucidated that the present focus of the network is on its transition to proof-of-stake (PoS). There will be a need for an expansion in throughput and capacity for lower gas fees, the platform claimed.

Investors Can Redeem ETH Rewards But Not Staked ETH

While moving ahead to address the other misconceptions, the venue stated that the validators can avail of fee rewards immediately as well as the maximal extractable value (MEV) that they received at the time of block proposals from Ethereum Mainnet. On the other hand, no permission will be provided to the investors to redeem their staked ETH following The Merge till the network’s next upgrade “Shanghai upgrade” occurs. Signifying that assets will be illiquid and locked following the merge for approximately half or a complete year.

Mihailo Bjelic, the co-founder of Polygon, shared his thoughts on the potential of Ethereum and disclosed that zkEVM Rollups (considered a unique scaling solution specified for Ethereum Network) will permit the protocol of smart contracts to outcompete Visa concerning the transaction throughput. Another co-founder of Polygon, Sandeep Nailwal, reiterated the viewpoint of Bjelic and asserted that a decrease of 90% in fees will take place in this respect. In his words, with an increase in the throughput, the platform will process forty to fifty per-second transfers.