September 15 will be a most historical day in ethereum because that’s the day when ethereum blockchain upgrade their ecosystem and called it”Ethereum merge”. This merge reduce 99% of Ethereum fee for transaction. And also ethereum going to ‘proof of work’ to ‘proof of stake’.
In this merge there is lot of mystery and people have a so many questions about this merge like what is the meaning of merge, how it happening, is it important, what is impacte of merge and many more.but a biggest fear by some technicians what if it fails?
What is the merge?
Merge is a basically one time of update in ethereum blockchain this merge change whole ethereum ecosystem from “proof of work” to “proof of stake”.
The merge is basically two steps process, and it name is Bellatrix and Paris. Bellatrix is a network upgrade on the consensus layer, which took place on Sept 6th 2022 at 11:34:47am UTC. And paris will be the execution layer that will transition Ethereum from proof-of-work to proof-of stake. Paris will be followed by Bellatrix.
Why ethereum merge is important?
Ethereum merge is very important for a users and developers. the crypto market fall because of inflation and higher interest rates and the other factors who affect market and ethereum, and we all know that ethereum take high gas fee. For the solution of all that problem developers think about it merge and reduce a gas fee to 99 % and build eco friendly blockchain.
Is there anything indeed to do prepare for ethereum merge as a investor or holder?
As a investor or holder we can not do anything as a part of upagradation or we haven’t any right for it too. There is no action required to protect your funds or wallet entering and throughout The Merge.
What happened after merge?
After the Completion of merge, running block chain of Ethereum as a proof of work replace by blockchain as a proof of stakes. Holder stakes millions of Ethereum in beacon chain, after merge this chain merge with Mainnet, including every transaction, smart contract, and balance since July 2015, will also be merged.
Is it impact on my ethereum?
No, it is not impact on your ethereum but in the other hand you can’t unlock staked ethereum and it is not available for trade until the merge is complete. This is only for a staked ethereum, it is expected to be unlocked and accessible once the Ethereum protocol completes its upgrades.
Will ETH 2.0 be a new coin or ethereum automatically become ETH 2.0?
simply Eth 2.0 is a not a new ethereum coin it just a temporary work coin, after thae merge Ethereum and Ethereum 2.0 will be merge as Ethereum and it work like previous Ethereum chain.
What if this merge will fail?
according to reports, it is a very less chance for a fail in this merge.( Here fail means bugs and any other problems). As we can see testnet of Eth network work good and a gave High performance in transaction, so after successfully lauch of testnet they prepared for a merge according to that here a very low chances of failer.
What’s we get new upgrade?
this whole upgrade is belong to ethereum community because after the upgradation we can easily do a transaction with minimum gas fee like solana and other blockchain. The previous version of Ethereum supports basic functionality for smart contracts, but after a merge they plans to introduce new functionality that will allow contracts to create their own tokens and tokens would then be distributed to ETH holders as a dividend.
Basically all of this help us in security and accuracy of blockchain with miner gas fee, so
What you think about ethereum merge below the comment.