- Ahead of the Merge, Insider spoke with 4 crypto vets who debunked common myths about the upgrade.
- Critics argue that Ethereum’s switch from a proof-of-work to proof-of-stake model could put the network at a security risk.
- All say, despite misconceptions, that the Merge will not cut back on Ethereum gas fees.
Ethereum’s upgrade, the Merge, is fast approaching. Slated for mid-September, industry vets have called it the most-important event in crypto’s history after the invention of bitcoin and ether.
Although the Merge will not address all of the common complaints associated with the smart-contract network, it is billed as a way to reduce energy usage by more than 99% and lays the groundwork for future upgrades. With any highly anticipated event – and especially one that can influence the trajectory of a more than a trillion-dollar industry – comes troves of online discourse and misinformation.
Insider spoke with four industry experts, including a long-time Ethereum developer, a crypto exec, and digital asset fund managers about the biggest misconceptions around the upgrade.