Immutable & The Merge

TL;DR

  • The Ethereum Merge will likely take place on September 15th
  • This will reduce Ethereum’s energy usage by 99.95%, but there will be no improvement to the throughput or cost of Ethereum transactions — for that, you’ll need rollups like Immutable
  • Immutable users and developers don’t need to take any action — we will transition seamlessly to proof of stake, with no downtime
  • Immutable will not be supporting Proof of Work Ethereum post-merge. $IMX tokens on the proof of work chain will not be recognised. If you want to use any assets deposited to Immutable X on the Proof of Work chain, you MUST withdraw them before the merge
  • We will be releasing a new test environment on Goerli to replace our current Ropsten environment — projects will need to migrate their test assets from Ropsten to Goerli before October 5, 2022

What is “the merge”? Is Ethereum 2.0 finally here?

  1. To scale Ethereum through “rollups” rather than through trying to improve base layer scalability exclusively (e.g. the route taken by Solana)
  2. To divide Ethereum 2.0 into a number of phases, and many individual upgrades, rather than delivering everything in one major release
  • The Merge: transition from Proof of Work to Proof of Stake
  • The Surge: Scalability increases for rollups through sharding
  • The Verge: Statelessness through verkle trees
  • The Purge: Eliminating historical Ethereum data and technical debt
  • The Splurge: Other important and uncategorised upgrades to Ethereum

What will be the impact of the Merge on Ethereum?

  • EIP-4844: reducing the cost of data by allowing data blobs to be stored in beacon nodes for short periods of time
  • Sharding: reducing the cost of data by allowing nodes to store only a subset of chain data

What will happen to my assets in the Merge?

  • Stablecoins — will only be able to be converted into USD from one source chain
  • NFTs — games and PFP projects will only recognise one chain
  • Fungible tokens with off-chain utility (e.g. Binance token fee share)

What do I need to do?

Where to from here?

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