So what user benefits will the ETH Merge bring?
). While PoW is a highly effective means of validation, it has been shown to use the same amounts of electricity as whole countries, meaning it is highly detrimental to the environment.
Under PoS, validators will only need to stake 32 Ether . The switch will also mean an increase in security. This is because it decreases the danger of a 51% attack , which is more likely on a PoW system. On a PoS system, the risk of launching an attack is the staked ETH — as opposed to electricity cost on PoW — so there is an inherent penalty for failure.
Whereas a failed PoW attack results in the loss of electricity costs, slashing a validator’s stake is the PoS equivalent of a miner burning down an entire PoW server farm in a failed attack. The economic incentive reduces significantly. The Merge will also ultimately level the playing field economically.Despite the fact that, at the moment, the Merge does not require huge amounts of action from the projects themselves.
Many users hold certain assumptions and guesses about how the system will change after the Merge. But in fact, many of those assumptions are wrong.. This means that gas fees will remain relatively high, depending on the demand and supply of computation power.The claim that transaction speeds will be improved has been repeatedly denied by Ethereum core developers. They argue that it depends on the app that utilizes the blockchain and not the chain itself.
It is expected that the price of ETH will rise immediately after the Merge, in part due to projection as a result of Goerli’s success and a potential system of hedging exposure. But the idea that ETH fees will be burned as a result is simply a myth. Instead, unburned fees and execution-level tips will be sent to stakers. Validators will receive 30% of transaction fees.There has been much talk about.
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