• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • bitcoinBitcoin(BTC)$23,397.000.400%
    BITCOIN
    24H : 0.400%
    Volume : $21,234,068,338.00
    Marketcap : $451,177,316,817.00
  • ethereumEthereum(ETH)$1,670.391.06%
    ETHEREUM
    24H : 1.06%
    Volume : $6,945,083,376.00
    Marketcap : $201,310,331,198.00
  • usdex-stablecoinUSDEX(USDEX)$1.08-0.31%
    USDEX
    24H : -0.31%
    Volume : $128,575.00
    Marketcap : $110,959,993,107.00
  • tetherTether(USDT)$1.000-0.02%
    TETHER
    24H : -0.02%
    Volume : $30,108,652,651.00
    Marketcap : $68,077,165,171.00
  • binancecoinBNB(BNB)$335.772.26%
    BNB
    24H : 2.26%
    Volume : $746,829,306.00
    Marketcap : $45,312,297,161.00
  • usd-coinUSD Coin(USDC)$1.0000.0100%
    USD COIN
    24H : 0.0100%
    Volume : $2,838,416,523.00
    Marketcap : $41,975,782,537.00
  • rippleXRP(XRP)$0.4120.500%
    XRP
    24H : 0.500%
    Volume : $628,783,961.00
    Marketcap : $20,905,597,712.00
  • binance-usdBinance USD(BUSD)$1.0000.0100%
    BINANCE USD
    24H : 0.0100%
    Volume : $7,202,176,680.00
    Marketcap : $16,274,915,149.00
  • cardanoCardano(ADA)$0.4010.300%
    CARDANO
    24H : 0.300%
    Volume : $271,140,995.00
    Marketcap : $14,059,124,028.00
  • dogecoinDogecoin(DOGE)$0.0963.17%
    DOGECOIN
    24H : 3.17%
    Volume : $1,469,444,034.00
    Marketcap : $13,289,124,249.00
TodayinCrypto.com

TodayinCrypto.com

  • Home
  • Latest News
  • YOUTUBE RECAPS
  • CONTACT US

The Ethereum Foundation clarifies that the planned Merge upgrade won’t lower gas fees


August 17, 2022 · By MATheGooner
Ethereum (ETH)

The Merge will not decrease gas fees, contrary to popular belief, according to the Ethereum Foundation, although the upgrade will result in a 99.5% reduction in network energy use.

The Ethereum Foundation updated its statement on Wednesday to clarify that the future “Merge” proof-of-stake temporary upgrade will not lower gas costs. The Ethereum Foundation wrote this in reference:

“Gas fees are a product of network demand relative to the network’s capacity. The Merge deprecates the use of proof-of-work, transitioning to proof-of-stake for consensus, but does not significantly change any parameters that directly influence network capacity or throughput.”

The Merge, which seeks to join the existing execution layer of the Ethereum mainnet with its new proof-of-stake consensus layer, the Beacon Chain, will eliminate the need for energy-intensive mining. It is expected to land within the third or final quarter of 2022. While many investors and traders alike have bought Ether in anticipation of the Merge upgrade, some appear to have done so under misconceptions that the network’s capacity will surge once the upgrade is live.

There are no initial Ether staking requirements and anyone is allowed to sync their own self-verified copy of Ethereum or to run a node. It is not feasible to withdraw staked Ether until the subsequent Shanghai upgrade is operational. However, benefits for liquid ETH in the form of fee tips will be accessible right away. Once launched, withdrawals from the validator will be rate-limited to avoid a possible liquidity crisis. 

After the Merge, transactions are not guaranteed to move any faster. The network’s APR returns are anticipated to climb by 50% after the upgrade to attract finance. The Merge, which is planned to have minimal downtime during the transition, is now being developed by client developers with a possible completion date of September 15 in mind.

Primary Sidebar

LATEST NEWS

Binance severs ties with Indian cryptocurrency exchange WazirX

February 3, 2023

Former Bank of China advisor urges China to rethink its ban on cryptocurrencies

February 2, 2023

Federal judge forbids SBF from using Signal to contact FTX and Alameda staff

February 1, 2023

Tesla posts a $140 million bitcoin net loss in 2022

January 31, 2023

UK regulator investigates charity connected to FTX

January 30, 2023

  • Facebook
  • Instagram
  • Twitter

Newsletter

Footer

ABOUT US

TodayinCrypto is a financial media brand that strives to deliver breaking, accurate and daily news about digital assets to millions of investors in the crypto industry.

We are passionate about Bitcoin and are keen to share news about the people, companies and technological developments that are changing our world.

TODAY IN CRYPTO

  • Australia scheduled to release plans to regulate cryptocurrencies in the country February 4, 2023
  • Binance severs ties with Indian cryptocurrency exchange WazirX February 3, 2023
  • Former Bank of China advisor urges China to rethink its ban on cryptocurrencies February 2, 2023

Search

Tags

Aave (AAVE) Aleph.im (ALEPH) Arweave (AR) Avalanche (AVAX) Benchmark Protocol (MARK) Binance Coin (BNB) Bitcoin (BTC) Bondly (BONDLY) Bridge Mutual (BMI) Cardano (ADA) Celsius Network (CEL) Chainlink (LINK) COTI (COTI) Decentraland (MANA) Dogecoin (DOGE) Elrond (EGLD) Enjin Coin (ENJ) Ethereum (ETH) Ethernity Chain (ERN) Fantom (FTM) FTX Token (FTT) Kusama (KSM) Litecoin (LTC) NFT OriginTrail (TRAC) PAID Network (PAID) PancakeSwap (CAKE) Polkadot (DOT) Polkastarter (POLS) Polygon (MATIC) SnowSwap Solana (SOL) SuperFarm (SUPER) Sushi (SUSHI) Terra (LUNA) Terra Classic (LUNC) The Graph (GRT) Theta Network (THETA) Tixl (TXL) Trustswap (SWAP) Uniswap (UNI) VeChain (VET) XRP (XRP) yearn.finance (YFI) Yield Optimization Platform & Protocol (YOP)

Copyright © 2023 · Today in Crypto · Terms & Privacy · Log in