Misconceptions about Ethereum Merge.
The Ethereum team has published on its website refutations of the main misconceptions about the merger:
1. 32 ETH staking is required to start the node.
You need to understand that there are two types of nodes (nodes) — those that can offer blocks, and those that cannot do this. Those validators who cannot offer blocks should not allocate any economic resources.
2. The merger will reduce the cost of gas
The merger will change the consensus mechanism, but will not affect the expansion of network bandwidth in any way. That is, it will not lead to a reduction in gas fees. The transition of ETH to PoS is one of the stages before the implementation of this goal.
3. Transactions will be noticeably faster after the merge
Despite some minor changes, the transaction speed will remain the same at the first level (Layer 1). On the Proof of Stake consensus mechanism, blocks will be created about 10% more often than on Proof of Work. But this is a minor change that most likely won't be noticed by users.
4. You can withdraw the blocked ETH immediately after the merger
The withdrawal of coins will be available only after the Shanghai update, that is, within 6-12 months after the update.
5. Validators will not receive any rewards in ETH until the Shanghai update
Validators will be given access to commission fees and maximum recoverable Value (MEV) earned during the block offering. The protocol issues ETH as a reward to validators for their contribution to consensus building. Beacon Chain takes into account the recently released ETH, where the validator has a unique address where its ETH and protocol rewards are stored. These ETH are blocked until the next update.
6. ETH on the main Ethereum network is counted separately from consensus.
When users make transactions on the main Ethereum #network, ETH is paid to cover the gas, including a commission to the validator.
7. When the withdrawal is allowed, all the stake holders will leave immediately
The frequency of full validator outputs is limited by the protocol. For each epoch (6.4 minutes), only six validators can come out, that is, 1,350 validators per day with an amount of about 43,200 ETH. At the same time, the total amount of ETH is more than 10 million. The limit is adjusted depending on the total number of blocked ETH.
8. The annual profitability of staking will grow three times after the update
According to the Ethereum Foundation estimates, the annual interest rate is likely to increase by only 50%.
9. Merging will cause the chain to be idle
The transition of Ethereum to PoS will not disrupt the network or its users.
The Ethereum team has published on its website refutations of the main misconceptions about the merger:
1. 32 ETH staking is required to start the node.
You need to understand that there are two types of nodes (nodes) — those that can offer blocks, and those that cannot do this. Those validators who cannot offer blocks should not allocate any economic resources.
2. The merger will reduce the cost of gas
The merger will change the consensus mechanism, but will not affect the expansion of network bandwidth in any way. That is, it will not lead to a reduction in gas fees. The transition of ETH to PoS is one of the stages before the implementation of this goal.
3. Transactions will be noticeably faster after the merge
Despite some minor changes, the transaction speed will remain the same at the first level (Layer 1). On the Proof of Stake consensus mechanism, blocks will be created about 10% more often than on Proof of Work. But this is a minor change that most likely won't be noticed by users.
4. You can withdraw the blocked ETH immediately after the merger
The withdrawal of coins will be available only after the Shanghai update, that is, within 6-12 months after the update.
5. Validators will not receive any rewards in ETH until the Shanghai update
Validators will be given access to commission fees and maximum recoverable Value (MEV) earned during the block offering. The protocol issues ETH as a reward to validators for their contribution to consensus building. Beacon Chain takes into account the recently released ETH, where the validator has a unique address where its ETH and protocol rewards are stored. These ETH are blocked until the next update.
6. ETH on the main Ethereum network is counted separately from consensus.
When users make transactions on the main Ethereum #network, ETH is paid to cover the gas, including a commission to the validator.
7. When the withdrawal is allowed, all the stake holders will leave immediately
The frequency of full validator outputs is limited by the protocol. For each epoch (6.4 minutes), only six validators can come out, that is, 1,350 validators per day with an amount of about 43,200 ETH. At the same time, the total amount of ETH is more than 10 million. The limit is adjusted depending on the total number of blocked ETH.
8. The annual profitability of staking will grow three times after the update
According to the Ethereum Foundation estimates, the annual interest rate is likely to increase by only 50%.
9. Merging will cause the chain to be idle
The transition of Ethereum to PoS will not disrupt the network or its users.