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The Ethereum merging with the Beacon network is the most anticipated event of this month. It is a massive change that will shift the consensus mechanism to Proof-of-stake and potentially allow the network to reduce not only energy consumption but also increase scalability and slightly reduce transaction time. The latest update to the network is not only a pack of small changes that are deployed in preparation for the merger but also a reminder for users to prepare for it too.
On September 15, the merger will be complete and we will have a very different crypto market where many prices will be volatile and the whole industry will be in chaos for a while. The turbulence will be caused by uncertainty among traders and by whales which will start moving their massive funds. Whether they will start purchasing or selling, does not matter. Prices will start dancing either way.
The only thing that we want to remind everyone of is that users of the network do not need to do anything with their ETH. Tokens will not be affected. With the hype surrounding the upcoming merge, many people are being scammed by bad actors who tell them that they need to swap their ETH for some other coin to preserve value or protect their assets from unforeseen bugs and issues. Other people deploy some memecoins and tell others that these new tokens are special ETH alternatives used by the network to protect users.
Remember that the merger is something that will happen, hopefully, without us noticing. The community and developers have been preparing for the event for several years, the Beacon network is fully compatible with Ethereum, and the merger will quickly combine these two without even a notable pause in transaction processing.
On the other hand, people who want to keep their tokens unaffected by the merger and stay on the mainnet should not mess around with the remnants of the PoW section of the network which may hard fork after the merger. In general, just don’t do anything with your ETH to prepare for the change.
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