15/09/2022
💎 Ethereum Merge: What you need to know.
❓ What is the Merge?
Ethereum is changing from 'proof-of-work' to a 'proof-of-stake' consensus mechanism.
😎 You do not need to do anything.
The Merge is designed to convert automatically. As a user, or holder of ETH or any other asset on the ETH blockchain no action is required on your wallet, collection or funds.
😰 Could this fail and hurt Ethereum?
The chances of failure are low to non-existent.
The developers have been working on how to execute this safely for a number of years with many tests.
💰 Does this mean Gas prices will be cheaper?
Long term, yes.
Not right away though, there are major updates coming for Ethereum along the way which will improve the transaction efficiency of Ethereum. Change is now possible.
🛡️ Protect yourself from scammers
There are many scams around online where people are pretending to be officials and offering to 'upgrade' people's Ethereum to Eth 2.0.
No action is needed to upgrade.
