Ethereum 2.0 Merge Countdown
Merge of Ethereum has completed successfully!
What is The Merge?
The Merge represents the joining of the existing execution layer of Ethereum (the Mainnet we use today) with its new proof-of-stake consensus layer, the Beacon Chain. It eliminates the need for energy-intensive mining and instead secures the network using staked ETH. A truly exciting step in realizing the Ethereum vision – more scalability, security, and sustainability.
It's important to remember that initially, the Beacon Chain shipped separately from Mainnet. Ethereum Mainnet - with all it's accounts, balances, smart contracts, and blockchain state - continues to be secured by proof-of-work, even while the Beacon Chain runs in parallel using proof-of-stake. The approaching Merge is when these two systems finally come together, and proof-of-work is replaced permanently by proof-of-stake.
Let's consider an analogy. Imagine Ethereum is a spaceship that isn't quite ready for an interstellar voyage. With the Beacon Chain, the community has built a new engine and a hardened hull. After significant testing, it's almost time to hot-swap the new engine for the old mid-flight. This will merge the new, more efficient engine into the existing ship, ready to put in some serious lightyears and take on the universe.
Misconceptions about The Merge
Misconception: "Running a node requires staking 32 ETH."
False. Anyone is free to sync their own self-verified copy of Ethereum (i.e. run a node). No ETH is required. Not before The Merge, not after The Merge, not ever.
Misconception: "The Merge will reduce gas fees."
False. The Merge is a change of consensus mechanism, not an expansion of network capacity, and will not result in lower gas fees.
Misconception: "Transactions will be noticeably faster after The Merge."
False. Though some slight changes exist, transaction speed will mostly remain the same on layer 1.
Misconception: "You can withdraw staked ETH once The Merge occurs."
False. Staking withdrawals are not yet enabled with The Merge. The following Shanghai upgrade will enable staking withdrawals.
Will ethereum merge increase price?
You can check ethereum merge price prediction here.
Misconception: "Validators will not receive any liquid ETH rewards til the Shanghai upgrade when withdrawals are enabled."
False. Fee tips/MEV will be credited to a Mainnet account controlled by the validator, available immediately.
Misconception: "When withdrawals are enabled, stakers will all exit at once."
False. Validator exits are rate limited for security reasons.
Misconception: "Staking APR is expected to triple after The Merge."
False. More up-to-date estimations predict closer to a 50% increase in APR post-merge, not a 200% increase.
Misconception: "The Merge will result in downtime of the chain."
False. The Merge upgrade is designed to transition to proof-of-stake with zero downtime.
The merge Ethereum(ETH) 2.0 release date 2022
Ethereum Merge Estimated Date is the 15th of September 2022