Eight knowledge points to quickly understand the merger and fork of Ethereum
It has soared from a low of around $900 to about $1,900 today. The rise of ETH has caused many investors who were waiting for $500 to buy the bottom to snap their thighs. The rise of ETH is inseparable from the arrival of the merger and upgrade of Ethereum. As the merger is approaching, the market has responded more and more positively. To some extent, it can even be said that the current market is a "merger bull".
What exactly is an Ethereum merger? Why would an Ethereum merger have such a big impact? How will the Ethereum merger affect ordinary users? How to participate in the hot spots of Ethereum merger and fork?
In response to your questions, BitKeep specially launched the topic "Hot Spots! Merger and Fork of Ethereum" to answer your questions and discover more market opportunities through special articles.
secondary title
1. What is Ethereum Merge?
2. Why merge?
2. Why merge?
As for why the merger is necessary, it is mainly to answer the question of why Ethereum should switch to PoS.
The congestion of the Ethereum network and the high Gas fee are obvious to all. In order to improve the performance of Ethereum, V God, the founder of Ethereum, proposed a sharding solution, but the sharding technology is contradictory to the PoW mechanism, so switching to PoS is a must-make choice.
In V God's view, compared to PoW, PoS is a superior blockchain security mechanism: under the same cost conditions, PoS provides better security; the PoS system is easier to recover after being attacked; ASIC mining is more decentralized.
secondary title
3. Why is the merger of Ethereum attracting attention?
The merger of Ethereum can be said to be one of the most important events in the history of cryptocurrency, because for a huge ecosystem and economy that is running like Ethereum, the transformation of the consensus mechanism is tantamount to changing the engine of a flying plane. Its importance is self-evident, and the risks in the middle are also huge, which is why the merger has been postponed and tested repeatedly.
secondary title
4. What impact will the merger have on ETH tokens?
Let me give the conclusion first. After Ethereum merges and switches to the PoS mechanism, the inflation rate will drop so much that it will enter a deflationary state. For the ETH currency price, the reduction in supply may be a strong support and boost for the currency price.
From the perspective of the data dimension, the annual supply of Ethereum is about 5.5 million. Since the upgrade of Ethereum London on August 5, 2021, more than 2.5 million ETHs have been destroyed in one year. According to the current Ethereum beacon chain The pledge data estimates that after the merger, the new ETH is about 600,000 pieces per year. That said, ETH’s annual inflation rate is expected to drop to around -1.6%.
secondary title
5. When will the Ethereum merger take place?
Although the merger has been postponed repeatedly before, but as far as the current situation is concerned, the merger in September is expected to be around September 15th.
On August 12, Vitalik tweeted that the Ethereum mainnet merge TTD has been set, and the bordel.wtf website predicts that the merge will happen around September 15, but the exact date depends on the hash rate.
secondary title
6. What is the Ethereum fork that everyone is talking about?
For a blockchain, a general hard fork is a normal upgrade, which is basically a planned update in the roadmap and belongs to the category of consensus. But sometimes some hard forks do not maintain consensus, and the split of the community leads to the creation of multiple blockchains. For example, in 2016, Ethereum was split into two chains, Ethereum and Ethereum Classic, due to the hacking incident of The DAO.
secondary title
7. What impact does the fork of Ethereum have on users?
secondary title
8. How to participate in hotspots of Ethereum mergers and forks?
For users, the most direct and beneficial way to participate is to receive forked coin candy on the chain. As mentioned above, BitKeep will introduce new product features to facilitate users to receive and trade forked coins. However, the premise is to mention the ETH or other ERC20 assets on the exchange or other chains to the Ethereum main chain in advance.
In addition, welcome to pay attention to BitKeep's official blog (https://blog.bitkeep.io/zh/?p=1245) and the "Ethereum Merger and Fork" feature article. There will be more "Ethereum Merger and Fork" in the future. Fork" related information, more detailed tutorials on "receiving fork coins".
