Ethereum Foundation clarifies that the upcoming Merge upgrade will not reduce gas fees
Cointelegraph
Published Aug 17, 2022 12:30PM ET
Updated Aug 18, 2022 08:40AM ET
According to a new clarification by the Ethereum Foundation on Wednesday, the network's upcoming proof-of-stake transitory upgrade — dubbed the "Merge," — will not reduce gas fees. Regarding this, the Ethereum Foundation wrote:
The Merge, which seeks to join the existing execution layer of the Ethereum mainnet with its new proof-of-stake consensus layer, the Beacon Chain, will eliminate the need for energy-intensive mining. It is expected to land within the third or final quarter of 2022. While many investors and traders alike have bought Ether in anticipation of the Merge upgrade, some appear to have done so under misconceptions that the network's capacity will surge once the upgrade is live.
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Written By: Cointelegraph
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