Ethereum Merge FAQ and Common Misconceptions (2024)

Table of Contents
Polygon Ethereum Network FAQs

Ethereum’s much-anticipated transition to the proof of stake (PoS) consensus, known as the Merge, is almost upon us. It’s a momentous event with broad-ranging implications for the greater Ethereum ecosystem. So we wanted to provide a definitive list of frequently asked questions (and answers) as well as address some of the common misconceptions, both of general and technical nature.

A: The Merge is a transition in how Ethereum’s decentralized network achieves consensus, from proof of work to proof of stake.

The transition to proof of stake will make Ethereum more energy-efficient, more secure, and lays the groundwork for future upgrades, like sharding.

  • A: The effect of the Merge on:
  • Using Polygon PoS: The Merge will have no effect on Polygon smart contracts already deployed on Ethereum.
  • Polygon Bridge: There are no modifications to the Polygon Bridge after the Merge. But deposit and withdrawal times will be longer as a consequence of Ethereum’s extended time to network finality.
  • Environmental impact: Polygon’s network emissions will reduce drastically because Ethereum’s energy efficiency will improve by 99%. Polygon’s relationship with Ethereum accounts for more than 95% of our own emissions.
  • Cost: The Merge will not increase network capacity. It is only a change in consensus. So it will not result in lower gas.
  • Speed: Proof of stake will not increase transaction speeds.
  • Security: The Merge will improve Ethereum’s security against coordinated attacks.

Read more about it here: What Does Ethereum’s Transition to Proof of Stake Mean for Polygon?

A: After the Merge, Ethereum’s energy consumption will shrink from 112 TWh/yr to 0.01 TWh/yr, reducing total energy consumption by ~99.95%.

A: Polygon’s roadmap is unaffected by the Merge.

A: Even when Ethereum begins to scale during “the surge” (Ethereum’s next phase) with upgrades like sharding, that will be good for Polygon, too—it will amplify the network’s ability to scale. Every improvement made to Ethereum, as a settlement layer, magnifies the power of Polygon.

A: No. Staked MATIC is not affected by the Merge.

False. The Merge is a change in consensus mechanism, not an expansion of network capacity. The Merge doesn’t fix expensive gas fees or boost Ethereum’s speed, so Polygon will continue to be essential for fast and cheap transactions.

Withdrawal of staked ETH will be available during the Shanghai Upgrade, the next major upgrade after the merge.

False. While the merge does pave the way for sharding, this future upgrade will not be enough to scale Ethereum. In fact, Polygon will benefit from it, and it will boost the performance of our scaling solutions.

  • To quote from ethereum.org: “The Ethereum ecosystem is firmly aligned thatlayer 2 scaling is the only way to solve the scalability trilemmawhile remaining decentralized and secure”.

No, you don’t need to do anything to prepare for the merge as an ETH or MATIC token holder.

No. You will not get an airdrop from the Ethereum Foundation. Beware of scammers tricking you into a malicious airdrop.

False. The merge is designed to transition to proof of stake with zero downtime.

Polygon

A: Polygon validators do not need to do anything specific to prepare for the Merge.

A: Out of an abundance of caution, during the merge, we WILL be pausing the following: the Polygon Wallet Suite, the Safe Bridge, and the Staking Platform. But we are NOT disabling smart contracts associated with those services. After the merge, all of the above will resume functioning normally. Learn more here.

A: dApps running on Polygon will not be impacted.

A: Polygon delegators and token holders do not need to do anything to prepare for the Merge.

A: Except for a longer withdrawal and deposit time on the polygon bridge, there will be no impact on Polygon's infrastructure suppliers.

Ethereum Network

A: After the Merge, all applications running on Ethereum should run exactly as pre-Merge, with the state and transaction history maintained.

A: The Merge comes with changes to: block structure, slot/block timing, opcode changes, sources of on-chain randomness, concept of safe head and finalized blocks. You can learn more here and make changes accordingly.

  • A: Ethereum validators need to complete the following steps before the switch:
  • Run the execution client, consensus client, and the validator client.
  • Make sure execution and consensus client are both synced using engine API
  • Set up fee recipient address to collect mining fees. (This should be done only after terminal total difficulty has been announced on Mainnet.)
  • A: Ethereum node operators need to complete the following steps before the switch:
  • Run the execution client and consensus client.
  • Make sure execution and consensus clients are both synced using engine API
  • A: For any dApps that have been pushed into production, you do not need to redeploy. If you are developing a dApp on a test network, be aware that the following popular test networks are being deprecated: Rinkeby, Ropsten, and Kovan.

    Moving forward, you should use Sepolia and Goerli as your test networks. More information on test networks is available on the official documentation.

No. You don’t need to do anything to your Polygon dApp, to prepare for the merge. Having said that, there are slight changes you might want to know. You can learn more here

No. There won't be any network outages during the merge.

Even though you might not need to modify anything specifically to get ready for the merge, infrastructure providers like exchanges, on/off ramps, and RPC providers might have to stop offering services on Ethereum while they update their code. It may cause your dApp to experience some downtime. Learn more about the changes here.

Tune into our blog for the latest news from the Polygon ecosystem & let’s bring the world to Ethereum!

Website | Twitter | Ecosystem Twitter | Developer Twitter | Studios Twitter | Telegram | Reddit | Discord | Instagram | Facebook | LinkedIn

Ethereum Merge FAQ and Common Misconceptions (2024)

FAQs

What are the concerns of Ethereum merge? ›

The Ethereum network has completed The Merge, which transitioned it from proof of work to proof of stake. Advocates praise the reduction in energy usage and say it may promote beneficial deflation. Critics argue the new system will make the cryptocurrency less decentralized and could open it up to new attacks.

Do I have to do anything with my ETH before the merge? ›

No, your Ethereum account and ETH, NFTs and ERC20 assets do not require an update/upgrade/migration/transfer/sync before or after the Merge.

Why Ethereum is going down after merge? ›

"In August 2022, the Ethereum Foundation warned users that the upcoming Paris upgrade would not reduce gas fees. Subsequently, prices fell, and ether was doomed to underperform bitcoin.

Was the Ethereum merge successful? ›

The Merge has been a tremendous success for Ethereum, ushering in an era of energy efficiency and environmental sustainability. It is clear that the move to a proof-of-stake consensus algorithm will have far-reaching implications not just for the future of Ethereum but also for blockchain technology as a whole.

What is the main problem with Ethereum? ›

He pointed out that the main problem Ethereum currently faces is the significant capital and incentives leaning towards creating L2/3/4 solutions, with almost no incentives for creating large-scale utility and value on any given core network.

What are the biggest risks to Ethereum? ›

These include:
  • Lido is a threat to Ethereum security.
  • Ethereum's crowd sale is harmful to the current proof-of-stake system.
  • Ethereum is too complex.
  • Ethereum's high fees will drive users away.
  • Ethereum is only used for financial speculation.

Can you Unstake ETH after merge? ›

To learn more about staking types, benefits, and risks, see Understanding Staking. With the Merge and the Shapella upgrade done, users can now stake and unstake ETH at any time. In addition, staking rewards will be deposited to staker withdrawal addresses automatically through a regular 'sweeping' process.

Can you still mine Ethereum after the merge? ›

Because Ethereum shifted to proof-of-stake in 2022, you cannot mine ether.

What to do with my Ethereum after merge? ›

The short answer is that ETH holders users won't need to do anything — The Merge will not affect the funds of holders. All funds will transfer over after The Merge, and ether will still appear as ETH in users' wallets.

How much will 1 Ethereum be worth in 2025? ›

By the year 2025, Ethereum is expected to reach the maximum level of $6,500 with a minimum of $ 4,500 and an average of $5,500. And by the year 2030, it is expected that it may go up to a maximum of $20,500. The current year will witness the Dencun upgrade, which is anticipated to positively boost the value of ETH.

Can Ethereum reach $50,000? ›

Can ethereum reach $50,000? Ethereum prices could surpass $50,000 by 2030 in a best-case scenario, according to VanEck.

Will Ethereum reach 10k? ›

The prospect of Ethereum (ETH) hitting the $10,000 mark has sent ripples of excitement across the crypto community. The convergence of these factors suggests a promising future for Ethereum (ETH), reinforcing its position as a leading cryptocurrency with significant growth potential.

What caused the merge? ›

The exact reasons as to why are unknown, but the Merge happened at a similar time to when Lord Ras and Empress Beatrix started draining large amounts of energy from a Source Dragon they had captured, which could have destabilized the Ethereal Divide.

What is the purpose of the Ethereum merge? ›

Ethereum's shift to proof-of-stake is one of the most anticipated events in cryptocurrency. The “Merge” is intended to shift the Ethereum blockchain from the current proof-of-work (PoW) consensus mechanism to a proof-of-stake (PoS) model intended to be faster and more energy efficient.

Why did ETH move to proof-of-stake? ›

Scalability issues: PoW limited the throughput and speed of the Ethereum network, as miners needed to find new blocks and nodes. Ethereum's capacity was around 15 transactions per second (TPS) before switching to proof-of-stake, which was far from enough to meet the growing demand for dApps and DeFi services.

What will Ethereum merge do to price? ›

ETH price around The Merge

After the news of The Merge's completion, the coin price went up, meaning that on 15 September it was trading at around $1,640. In the 24 hours after that, though, the price dropped sharply, and on 16 September 2022, it was worth about $1,450.

What happens during Ethereum merge? ›

The Merge represents the formal adoption of the Beacon Chain as the new consensus layer to the original Mainnet execution layer. Since The Merge, validators are assigned to secure Ethereum Mainnet, and mining on proof-of-work is no longer a valid means of block production.

What is the benefit of Ethereum merge? ›

Ethereum's shift to proof-of-stake is one of the most anticipated events in cryptocurrency. The “Merge” is intended to shift the Ethereum blockchain from the current proof-of-work (PoW) consensus mechanism to a proof-of-stake (PoS) model intended to be faster and more energy efficient.

How is supply of ETH affected by the merge? ›

The Merge and Dencun increase the supply of Ethereum

This transition not only marked a significant reduction in the network's energy consumption of over 99%, but also introduced a new mechanism for managing transaction fees and creating new ETH.

Top Articles
Latest Posts
Article information

Author: Kieth Sipes

Last Updated:

Views: 5987

Rating: 4.7 / 5 (47 voted)

Reviews: 94% of readers found this page helpful

Author information

Name: Kieth Sipes

Birthday: 2001-04-14

Address: Suite 492 62479 Champlin Loop, South Catrice, MS 57271

Phone: +9663362133320

Job: District Sales Analyst

Hobby: Digital arts, Dance, Ghost hunting, Worldbuilding, Kayaking, Table tennis, 3D printing

Introduction: My name is Kieth Sipes, I am a zany, rich, courageous, powerful, faithful, jolly, excited person who loves writing and wants to share my knowledge and understanding with you.