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What was the Merge?
The Merge was Ethereum's switch from proof of work to proof of stake on September 15, 2022. The original Ethereum chain joined the Beacon Chain, a proof-of-stake chain running since December 2020, and validators who stake ETH replaced miners in producing blocks.
What it means for you
Holders did not need to do anything: there is no 'ETH2' coin to claim or swap, and ethereum.org says people claiming otherwise are likely scammers. The Merge also did not lower gas fees or enable staking withdrawals; withdrawals came in a later upgrade.
A common mistake: “After the Merge I have to swap my ETH for ETH2.”
In fact: There is no old or new ETH. The Merge changed how blocks are agreed on, not the coin, and wallets work the same as before. Anyone asking you to upgrade or migrate ETH is likely running a scam.
How it works
Before the Merge, Ethereum's execution layer, which holds accounts and runs transactions, was secured by proof-of-work mining, while the Beacon Chain ran alongside it coordinating stakers. At the Merge the execution layer stopped following miners and began following the Beacon Chain: each beacon block now wraps an execution payload of transactions. Energy use fell by about 99.95%. It changed the consensus mechanism, not network capacity, so it was never intended to cut gas fees, and transaction speed changed only slightly.
Sources: ethereum.org: The Merge, ethereum.org: The Beacon Chain, ethereum.org: Proof-of-stake · checked 4 October 2026
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Educational content, not financial advice. Written by hand and checked against the source named above. Something wrong? Tell us and we reply within two business days.