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Ethereum is Dead. How to PROFIT from THE MERGE to ETH 2.0Looking to learn more about the ethereum merge? Get started with Kraken � the secure cryptocurrency exchange. From Phase 1 onward, Eth2 will house Ethereum's entire history of transactions and support smart contracts on the PoS network. Stakers and validators will. The merge happened over a two-step process: First the operators needed to update their consensus layer and execution layer clients together. That then activated.