The Ethereum Merge has been one of the most anticipated events in the blockchain space, marking a pivotal shift from proof-of-work (PoW) to proof-of-stake (PoS). As the network transitions, speculation, excitement, and confusion have surged across the crypto community. Amidst this transformation, Ethereum Classic (ETC) has seen a notable rebound, drawing attention from miners and investors alike. But what’s really happening? And what myths are clouding the truth about the Merge?
This article breaks down the latest developments, separates fact from fiction, and explores how the transition is reshaping the ecosystem — including unexpected ripple effects on Ethereum Classic.
Goerli/Prater Testnet Successfully Merges
The final major test before the mainnet transition occurred with the Goerli/Prater testnet merge in August 2022 — a critical milestone confirming the viability of the Ethereum Merge.
The process unfolded in two phases:
- Bellatrix Upgrade (Consensus Layer) – Activated on August 4, 2022 (UTC), this update prepared the beacon chain for execution layer integration.
- Paris Upgrade (Execution Layer) – Triggered when the total difficulty reached 10,790,000, occurring between August 6–12, 2022.
This successful testnet merge confirmed that Ethereum’s core infrastructure could seamlessly transition to PoS without data loss or network disruption. With Goerli now operating under PoS, developers gained confidence in rolling out the same upgrade on the mainnet.
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Will the Ethereum Merge Impact ETH Price?
Despite widespread anticipation, Ethereum co-founder Vitalik Buterin has cautioned against expecting an immediate price surge before or after the Merge.
While many investors hoped for a bullish breakout tied to the event, Buterin emphasized that market dynamics, sentiment, and broader macroeconomic factors play a more significant role than protocol upgrades alone. The Merge was primarily a technical evolution — not a direct catalyst for short-term price action.
That said, long-term implications are promising. Post-Merge, Ethereum is expected to become deflationary during periods of high usage, as ETH burned through transaction fees may exceed new issuance. This supply contraction could support upward price pressure over time — but not instantaneously.
Additionally, the full transition isn’t completed with the Merge alone. Features like staked ETH withdrawals were not enabled until the subsequent Shanghai upgrade, further delaying full functionality for validators.
Ethereum Classic (ETC) Surges Amid Mining Migration
One of the most visible side effects of the Merge has been the resurgence of Ethereum Classic (ETC).
As Ethereum abandons PoW, miners who once secured its network are seeking alternative chains to deploy their hardware. ETC, being one of the few remaining PoW-based smart contract platforms, has become a natural destination.
Vitalik Buterin himself acknowledged this trend, suggesting that users who prefer PoW systems might consider Ethereum Classic — calling it “a perfectly good chain.”
Market data reflects this shift:
- Hash rate increased by approximately 124% within two weeks
- New addresses rose 92.72% over two days, reaching 20,189 daily
- Active addresses climbed 50.78%, hitting 40,046
This influx of computational power strengthens ETC’s security and network activity, reinforcing its position in the post-Ethereum PoW landscape.
Common Misconceptions About the Ethereum Merge
Despite extensive documentation, many misunderstandings persist about what the Merge does — and doesn’t — change.
Let’s clarify the most prevalent myths:
“Running a node requires staking 32 ETH.”
False. Anyone can run a full node without staking. It only requires downloading the client software and syncing with the network. No ETH is needed.“The Merge will reduce gas fees.”
False. Gas fees are determined by network congestion and block capacity — not consensus mechanism. The Merge doesn’t increase throughput or scalability.“Transactions will be faster after the Merge.”
False. Layer 1 transaction speed remains largely unchanged. Block times average ~12 seconds pre- and post-Merge.“You can withdraw staked ETH immediately after the Merge.”
False. Withdrawals were not enabled until the Shanghai upgrade, which occurred months later.“Validators won’t receive rewards until withdrawals are possible.”
False. Execution-layer rewards (like MEV and tips) are already credited to validator-controlled accounts and are spendable immediately.“All stakers will exit en masse once withdrawals are live.”
False. Exit rates are capped for network stability — only a limited number of validators can withdraw per epoch.“APR will triple after the Merge.”
False. Projections suggest a roughly 50% increase in staking APR, depending on total ETH staked — not a 200% jump.“The Merge could cause network downtime.”
False. The upgrade was designed for zero downtime. Extensive testing ensured continuous operation during transition.
When Will the Ethereum Mainnet Merge Happen?
While initial estimates pointed to September 19, 2022, no fixed date was set at the time of writing due to dependency on testnet outcomes and client readiness.
As stated in official announcements, once Goerli/Prater demonstrated a smooth transition:
- Clients released mainnet-compatible versions
- A Bellatrix slot height was selected
- Total difficulty threshold was defined
Only after these conditions were met could a definitive timeline emerge. The actual mainnet Merge occurred successfully in September 2022, marking the end of Ethereum’s PoW era.
Frequently Asked Questions (FAQ)
Q: What exactly is the Ethereum Merge?
A: The Merge refers to the integration of Ethereum’s existing execution layer with the new proof-of-stake beacon chain, replacing mining with staking as the consensus mechanism.
Q: Does the Merge make Ethereum more scalable?
A: Not directly. Scalability improvements come from future upgrades like rollups and sharding. The Merge focuses on energy efficiency and security.
Q: Can I still mine Ethereum after the Merge?
A: No. Ethereum abandoned proof-of-work, making mining obsolete on the mainnet. Miners have migrated to other networks like ETC or GPU-friendly coins.
Q: Is Ethereum now fully upgraded?
A: The Merge was a major milestone, but it’s part of a broader roadmap including Shanghai, Cancun, and Prague upgrades focused on scalability, usability, and further deflation.
Q: How does ETC benefit from Ethereum’s transition?
A: With Ethereum moving to PoS, ETC absorbs displaced miners and hash power, boosting its network security and attracting communities valuing decentralized mining.
Q: Will ETH become deflationary after the Merge?
A: Yes — during periods of high network usage, more ETH is burned via base fees than is issued to validators, leading to net supply reduction.
Final Thoughts: A New Era Begins
The Ethereum Merge wasn’t just a technical overhaul — it was a statement about sustainability, decentralization, and long-term vision. By cutting energy consumption by over 99%, Ethereum set a new standard for environmentally responsible blockchains.
Meanwhile, Ethereum Classic’s rebound highlights how legacy chains can find renewed relevance in evolving ecosystems.
Whether you're staking ETH, exploring ETC opportunities, or simply observing the shift, understanding the facts behind the hype is crucial.
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