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Merge electronically sign fact

hey guys welcome back in this video we're going to talk about one of the biggest blockchains around called ethereum hopefully in the near future we will move from ethereum 1.0 to ethereum 2.0 also referred to as the merge we will debunk one of the biggest misconceptions being that gas fees will lower after emerge which is false and we will give you the real reason for the switch this might get a bit more technical than usual but hopefully you will learn a lot don't forget to subscribe to the channel to get your weekly updates before we dive in a little bit of context what we'll change technically in the merge is that we will change the validation model for transactions we will move from proof of work to proof of stake and in both models you don't want people validating the network to commit fraud we call these people validators in proof of work you ask these validators to invest a lot of money in mining rigs and electricity to solve difficult mathematical problems and improve of stake you ask them to stake or freeze ethereum for a certain period of time in both models the validators can lose their investment if they publish false transactions and they get rewarded if they publish correct transactions this basic human behavior of many validators is what keeps blockchains safe it's a very well adopted and wide adopted misconception that ethereum 2.0 or the merge will lower gas fees i know we don't like to pay gas fees and they can be quite high when the chain is busy basically gas fees are a mechanism on the ethereum blockchain to make sure we can sell fast track tickets to individuals the more you pay the faster your transaction will happen so basically it depends on the activity of the chain and not necessarily in the way a transaction is validated so it's very safe to say that gas fees will stay the same once ethereum 2.0 is live so if this is not going to lower the gas fees why in god's name are we doing this you might ask well for three reasons the first one being better decentralization in the old proof of work model you need to invest millions in mining equipment and electricity to become a validator this prevents a lot of people to participate in the ecosystem in the new model proof of stake you will only need a regular laptop and 32 each to participate increasing the number of validators will enable the network to become more decentralized the second reason is to reduce the inflation rate of ethereum remember those validators well they need to get paid for the work that they do proof of work is very expensive proof of stake is very cheap and the way we compensate them for the work they do is by creating new ethereum so if the need for ethereum creation lowers because of proof...