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Simple guide to understanding the ETH merge
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- It is a switch from Proof of Work to Proof of Stake consensus algorithm.
- The economical footprint of PoS is something like a 99.5% reduction in energy use, so it is more environmentally friendly.
- The merge WILL NOT affect fees or throughput (a latter upgrade around sharding targets that).
- ETH's issuance rate (about 4.5% inflation), will drop to about 0.5% (coined "triple-halvening"). Factoring in the fee burn, ETH will near 0% inflation or even deflationary over the long term.
- The current staked ETH WILL NOT unlock at the merge. The devs are targeting an upgrade in 6 months to enable withdrawal. Thus, the whole idea that everyone will sell their staked ETH at the merge is not even possible.
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sooooo i can still accept crypto on my OF after this?
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Thank you that makes me very excited! ;)