Ethereum Merge: What do users need to do?

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Ethereum Merge: What do users need to do?

Ethereum Merge is one of the biggest events in the crypto world that will change one of the biggest ecosystems – Ethereum. The merger is the joining of the Ethereum mainnet to the proof-of-stake system coordinated by the Beacon Chain.

The transition of the said ecosystem from Proof of Work (PoW) to Proof of Stake (PoW) will reduce its energy consumption and increase the reliability of a large number of computers. Since this change will make it easier for Ethereum to manage transactions and other features, it could also have some negative impacts.

One of them is a hint of the end of mining and miners who will become almost useless after the merger. Other changes could include impacts on users' wallets and personal assets, but the chances of that happening are slim.

ETH merger and possible changes

The Ethereum merger will bring with it several changes – fewer validators, which will reduce power consumption by more than 95%, and transaction fees will also be reduced. The first step of the Bellatrix merger was successfully completed on September 6, while the second step, Paris, is expected to be completed next week.

The last few weeks have seen large fluctuations in the value of Ethereum and Ethereum Classic. The value of Ethereum has been falling for the past few days, which can potentially be attributed to the merger. Some experts are predicting that Ethereum will “take off” and its price will skyrocket after the merger.

Others argue that the Ethereum merger will crash its prices. Various claims regarding the Ethereum merger are confusing investors. Ethereum management assures users that the merger will improve network security, sustainability and scalability.

Steps users can take

The most common question asked by users before merging Ethereum is “what should I do?”. There is the possibility of risk as well as the healthy transition of Ethereum, so users can use different strategies for their security.

The safest option available is to do nothing and wait for the transition process to complete. As users have nothing to do with the merge, they don't have to be prepared for the same. The most important step is depositing the assets in the mainnet defi.

Invested ETH could face high volatility in the coming days, so those with long-term investments should monitor market conditions. Those who have long-term plans for their investments are those in SAFU funds. Coinbase users should be more careful because there are higher chances of fluctuation.

The Ethereum merger is likely to happen in a few days and will bring various questions among users. Many users are not sure what to do. According to analysts, it is best to do nothing and wait for the transition.