The excitement around Ethereum’s (ETH) upcoming upgrade, The Merge, which involves the merger of two blockchains — Mainnet Ethereum and Beacon Chain — has unknowingly spurred rumors across the community.
Termed the most significant upgrade in the history of Ethereum, The Merge does indeed mark the end of proof-of-work (PoW) for the Ethereum blockchain. However, here are five misconceptions that stand out among the rest.
Misconception 1: Ethereum gas fees will reduce after The Merge
Ethereum’s impending upgrade will reduce Ethereum’s infamous gas fees (transaction fees) is one of the biggest misconceptions circulating among investors. While reduced gas fees tops every investor’s wishlist, The Merge is a change of consensus mechanism that will transition the Ethereum blockchain from PoW to proof-of-stake (PoS).
Instead, lowering gas fees in Ethereum will require working on expanding the network capacity and throughput. The developer community is currently working on a rollup-centric...
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