Updates merge impact on ether issuance page [Closes #7873] #8329
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wackerow
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samajammin,
corwintines,
pettinarip,
minimalsm and
jmcook1186
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✅ ethereum-org-website-dev deploy preview ready
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hoanglamcoin
approved these changes
Oct 23, 2022
jmcook1186
reviewed
Oct 26, 2022
jmcook1186
suggested changes
Oct 26, 2022
Co-authored-by: Joseph Cook <[email protected]>
jmcook1186
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Oct 26, 2022
wackerow
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Oct 27, 2022
corwintines
reviewed
Oct 27, 2022
| How ETH gets issued will change at the time of The Merge. Currently, new ETH is issued from two sources: the execution layer (i.e. Mainnet) and the consensus layer (i.e. Beacon Chain). After The Merge, issuance from the execution layer will go to zero. Let's break this down. | ||
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| [More on The Merge](/upgrades/merge/) | ||
| <!-- How ETH gets issued changed at the time of The Merge, which occurred in September 2022. Previously, new ETH was issued from two sources: the execution layer (i.e. Mainnet) and the consensus layer (i.e. Beacon Chain). Since The Merge, issuance on the execution layer is now zero. Let's break this down. --> |
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Should this just be removed?
corwintines
reviewed
Oct 27, 2022
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| ### Consensus layer issuance {#cl-issuance-post-merge} | ||
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| Consensus layer issuance will continue as before The Merge, with small rewards for validators who attest to and propose blocks. Validator rewards will continue to accrue to _validator balances_ that are managed within the consensus layer. These are separate Ethereum accounts to the accounts we're used to on Mainnet, and until the Shanghai upgrade funds from validator accounts will not be withdrawable/transferrable. This means that although new ETH is still being issued, 100% of it will be locked from the market until this upgrade occurs. When the Shanghai upgrade is rolled out, this ETH will become available. | ||
| Consensus layers issuance continues today as it did prior to The Merge, with small rewards for validators who attest to and propose blocks. Validator rewards continue to accrue to _validator balances_ that are managed within the consensus layer. These are separate Ethereum accounts to the accounts we're used to on Mainnet, and until the upcoming Shanghai upgrade funds from validator accounts will not be withdrawable/transferrable. This means that although new ETH is still being issued, 100% remains locked from the market until this upgrade occurs. When the Shanghai upgrade is rolled out, this ETH will become available. |
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Suggested change
| Consensus layers issuance continues today as it did prior to The Merge, with small rewards for validators who attest to and propose blocks. Validator rewards continue to accrue to _validator balances_ that are managed within the consensus layer. These are separate Ethereum accounts to the accounts we're used to on Mainnet, and until the upcoming Shanghai upgrade funds from validator accounts will not be withdrawable/transferrable. This means that although new ETH is still being issued, 100% remains locked from the market until this upgrade occurs. When the Shanghai upgrade is rolled out, this ETH will become available. | |
| Consensus layer issuance continues today as it did prior to The Merge, with small rewards for validators who attest to and propose blocks. Validator rewards continue to accrue to _validator balances_ that are managed within the consensus layer. These are separate Ethereum accounts to the accounts we're used to on Mainnet, and until the upcoming Shanghai upgrade funds from validator accounts will not be withdrawable/transferrable. This means that although new ETH is still being issued, 100% remains locked from the market until this upgrade occurs. When the Shanghai upgrade is rolled out, this ETH will become available. |
Think this reads a little more clear, but not a string opinion
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Also noting the text around shanghai upgrade. Im fine with this as Vitalik and others have basically said it will be in Shanghai, but we did have comments in the past about this
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Yeah, despite the exact list of EIPs not being solidified yet, there seems to be consensus on withdraws being prioritized and I'm comfortable with the wording at this point.
corwintines
approved these changes
Oct 27, 2022
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Description
/upgrades/merge/issuanceRelated Issue
Note, PR #7921 was also put up to address updated ETH issuance, but removes the comparison to pre-merge Ethereum. After some discussion and given this page is located at
/upgrades/merge/issuance, recommending we table that PR for now and plan to create a separate subpage located underneath the/ethpath as noted in this comment such as/eth/issuance.Another note, in the future it would be nice to have issue #7653 addressed to enable displaying these mathematical expressions in a more appropriate manner. If/when that issue is completed, we should circle back to this content and update these expressions to use Latex mathematical expressions instead of code snippets.
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