Ethereum Foundation Makes It Clear The Merge Will Not Improve Fees and Throughput

The Ethereum Foundation wants the public to be aware that while The Merge will transition from PoW to PoS, assumptions that fees will drop are false. The statement was added to the foundation’s definition and summary of The Merge hosted on ethereum. Ethereum developers are expected to convene for a meeting on August 18, 2022. While transaction fees on Ethereum will not change after The Merge, users who want lower fees will have to leverage layer two scaling solutions and wait for more Ethereum upgrades.

Following The Merge, Ethereum will implement The Surge, The Verge, The Purge, and finally The Splurge. Ethereum’s The Verge transition will apply Verkle trees in order to achieve statelessness by using the Merkle proof upgrade. Even though fees will not be reduced right away, Ethereum’s onchain fees have been at the lowest rates since 2020.

Read the original article.

Source: Jamie Redman | Bitcoin .com

Leave a Reply

Your email address will not be published. Required fields are marked *

Previous post Colombia Plans to Launch Digital Currency to Reduce Tax Evasion
Next post DR Congo Opens Up Oil Auctions to Crypto and Carbon Firms