Will Ethereum 2.0 be vulnerable to censorship? Industry professional explains
Ryan Berckmans, an Ethereum community member and investor, discussed the potential consequences that the Tornado Cash ban could have on the future of the network. The Ethereum network will be able to withstand censorship risks both in the short and long term, according to Ethereum community member and investor Ryan Berckmans.The ban of Ethereum-based privacy tool Tornado Cash by U.S. authorities earlier this month left many wondering whether Ethereum transactions could be also at risk of censorship, especially after Ethereum’s imminent transition to a proof-of-stake system. A widespread....
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The top 100 DeFi tokens recorded a bearish price action over the past week, with the majority trading in the red, barring a few tokens that have shown even double-digit growth. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week.The past week in the DeFi ecosystem saw major developments centered around the Ethereum Merge. Aave (AAVE) community proposed temporarily suspending Ether (ETH) lending before the Merge, citing the potential issue of high ETH utilization....
With Ethereum validators being required to stake 32 ETH, Ethereum could become more centralized and susceptible to censorship from governments. Ethereum’s upgrade to proof-of-stake (PoS) may make it more vulnerable to government intervention and censorship, according to the lead investigator of Merkle Science. Speaking to Cointelegraph following the Ethereum Merge, Coby Morgan, a former FBI analyst, and the Lead Investigator for crypto compliance and forensic firm Merkle Science expressed his thoughts on some of the risks posed by Ethereum’s transition to PoS. While centralization issues....
A new controversy related to Bitcoin and censorship has broken out on Reddit over the past few days. Various /r/BTC users and moderators seem to be advising others to have /r/Bitcoin mods removed. While there has been a censorship issue on the official Bitcoin subreddit in the past, this new campaign seems rather strange. Censorship in the Bitcoin world is far more widespread than most people think. Particularly on public discussion boards, such as Reddit. Moderators are tasked to remove any irrelevant or disturbing information to keep discussions professional. However, sometimes they also....
Social slashing and even a user-activated soft fork have been suggested as possible responses to the threat of transaction censorship on Ethereum. The Ethereum community has been divided over how to best respond to the threat of protocol-level transaction censorship in the wake of the United States government sanctions on Tornado Cash-linked addresses. Over the last week, Ethereum community members have proposed social slashing or even a user-activated soft fork (UASF) as possible responses to transaction-level censorship on Ethereum, with some calling it a “trap” that will do more harm....
Vitalik Buterin, the co-founder of Ethereum, frowns deeply on the possibility of Ethereum censorship by the US Treasury Department’s Office of Foreign Assets Control (OFAC). He maintained that such an action amounts to an attack on the network. Hence, it could bring results in different dimensions. Buterin disclosed his stance concerning this in a tweet. […]