The #Merge is less than 10 days away like it or NOT but What should we expect and do with our $ETH, Staking, and #NFTs Let's explore the Myths/Risk and the Truth around it.

Before we start if you haven't checked my last thread about the forks and the potential #Airdrops that come with #merge make sure to check below :) Your Like/RT/ comment and follow are highly appreciated.

The Merge is tentatively scheduled for September 15. The countdown to #Mainnet is based on a target #TTD of #58750000000000000000 The merge is simply a change of consensus mechanism used to verify #transactions and secure the #network.

• The Ethereum symbol will remain $ETH

• #PoS reduce energy consumption +99%

that's actually very important and will allow more #adoptions by big tech companies and even governments and institutions that are concerned about environmental effects

• Significant Drop in $ETH Distribution

#Ethereum issues around 13,500 ETH per day, with an annual issuance of approximately 4.3% of ETH’s total supply. With the proof-of-stake (#PoS) issuance, the annual issuance is predicted to drop between 0.3% to 0.4%.

ETH burn with #EIP-1559 and the #Staking and the drop of eth distribution will significantly affect the amount of circulation supply and the reason people calling it a "Triple Halving Event" which is equal to 3 #Bitcoin #Halving that happens every 4 years.

• Reduce the gas fees

PoS wont change the Ethereum capacity so the upcoming upgrade will not reduce gas fees.

• Changing the speed

there might be small changes but NO speed will remain the same

• 3x higher staking APR

False/Prediction 50% increase

• Issue during the upgrade

It can bring down the entire network for a short time / if that happens #Devs need to restart the network like what #Solana has done many times :)) Ngl this gonna affect the #Ethereum reputation and the price

• What if things go really wrong

if things go wrong and restarting the network didn't help or the merge failed then the #blockchain needs to be #forked which is the opposite of the #merging.

A Replay attack is referred to as a man-in-middle attack It happens when a #hacker or malicious actor secretly connects, intercepts & tweaks data on a secure #network so that the #transaction is delayed or repeated to the detriment of the originator

Replay attacks can also happen in the blockchain space, especially during chain splits or #HardForks. After the merge, there would be two or more functioning chains/copies of the Ethereum blockchain, and assets on the current #Ethereum, including #NFTS, will be duplicated

This means the #NFTs you currently hold will be duplicated, which consequently opens up the chances of a #ReplayAttack. More Details from Olimpio

The short answer is not to interact with the ETH-POW chain ever BUT if you still plan to interact with all the new/old chains create new #wallets for new #chains before and after the merge/ yep you need to pay #fees Better Safe Than Sorry.if you're looking for more details

-Hossein

The #Merge is less than 10 days away like it or NOT but What should we expect and do with our $ETH, Staking, and #NFTs Let's explore the Myths/Risk and the Truth around it.

Before we start if you haven't checked my last thread about the forks and the potential #Airdrops that come with #merge make sure to check below :) Your Like/RT/ comment and follow are highly appreciated.

The Merge is tentatively scheduled for September 15. The countdown to #Mainnet is based on a target #TTD of #58750000000000000000 The merge is simply a change of consensus mechanism used to verify #transactions and secure the #network.

• The Ethereum symbol will remain $ETH

• #PoS reduce energy consumption +99%

that's actually very important and will allow more #adoptions by big tech companies and even governments and institutions that are concerned about environmental effects

• Significant Drop in $ETH Distribution

#Ethereum issues around 13,500 ETH per day, with an annual issuance of approximately 4.3% of ETH’s total supply. With the proof-of-stake (#PoS) issuance, the annual issuance is predicted to drop between 0.3% to 0.4%.

ETH burn with #EIP-1559 and the #Staking and the drop of eth distribution will significantly affect the amount of circulation supply and the reason people calling it a "Triple Halving Event" which is equal to 3 #Bitcoin #Halving that happens every 4 years.

• Reduce the gas fees

PoS wont change the Ethereum capacity so the upcoming upgrade will not reduce gas fees.

• Changing the speed

there might be small changes but NO speed will remain the same

• 3x higher staking APR

False/Prediction 50% increase

• Issue during the upgrade

It can bring down the entire network for a short time / if that happens #Devs need to restart the network like what #Solana has done many times :)) Ngl this gonna affect the #Ethereum reputation and the price

• What if things go really wrong

if things go wrong and restarting the network didn't help or the merge failed then the #blockchain needs to be #forked which is the opposite of the #merging.

A Replay attack is referred to as a man-in-middle attack It happens when a #hacker or malicious actor secretly connects, intercepts & tweaks data on a secure #network so that the #transaction is delayed or repeated to the detriment of the originator

Replay attacks can also happen in the blockchain space, especially during chain splits or #HardForks. After the merge, there would be two or more functioning chains/copies of the Ethereum blockchain, and assets on the current #Ethereum, including #NFTS, will be duplicated

This means the #NFTs you currently hold will be duplicated, which consequently opens up the chances of a #ReplayAttack. More Details from Olimpio

The short answer is not to interact with the ETH-POW chain ever BUT if you still plan to interact with all the new/old chains create new #wallets for new #chains before and after the merge/ yep you need to pay #fees Better Safe Than Sorry.if you're looking for more details

-Hossein