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Cryptoknowmics 2022-08-17 13:07:29 Dispels Common “Misconceptions” About Upcoming Merge

The Ethereum (ETH) network team has decided to dispel some of the most widespread misconceptions regarding the much-anticipated Merge upgrade to the blockchain as the date draws closer. On August 17, the team provided more information on the expectations that the Merge itself would lower gas costs, significantly speed up transaction times, allow for staking withdrawals, and provide limitless validator exits on its website. Gas Prices And Transaction Speed To Remain Invisible The team responded that the Merge was “a change of consensus method, not an extension of network capacity, and will not result in lower gas rates,” contrary to the claim that it would slash gas prices. However, the Ethereum team did acknowledge that there had been “some modest adjustments” but that “transaction speed would generally remain the same on layer 1.” Furthermore, block and time to finalization will slightly alter, “but not in a way that users would notice.” No Unlimited Staking Withdrawals Or Validator Exits One of the other expectations of the Merge is that following the Shanghai upgrade, investors would be able to make all of their withdrawals at once. Nevertheless, the team contends it is incorrect since “validator exits are rate limited for safety reasons.” The website clarifies that “staking withdrawals are not yet available with The Merge.” Dismissing The Network Downtime Fear The team emphasizes that this will not occur because “the Merge...

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