Ethereum dev addresses node centralization concerns in runup to the Merge
A majority of 4,653 active Ethereum nodes are being run through centralized web providers like Amazon Web Services, which experts believe could become a central point of failure. Ethereum is a few weeks away from officially moving to a proof-of-stake (PoS) mining consensus from its current proof-of-work (PoW) one. The transition officially dubbed the Merge is slated for Sept. 15, but in the run-up to the major upgrade, Ethereum node centralization has become a hot topic.As Cointelegraph reported last week, the majority of 4,653 active Ethereum nodes are being run through centralized web....
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Mow claims a few node operators have the power to change, delay or even cancel the upcoming Ethereum Merge. Samson Mow, a well-known Bitcoin proponent, recently took to social media to talk about the centralization aspects of the upcoming Merge, which he claimed isn’t widely known.Ethereum is in the countdown mode after the completion of the Bellatrix upgrade on Sept. 6 and is all set for the official transition between Sept.13-15, depending on the hashrate (computer power) input on the network. The Merge is slated to be triggered by a difficulty threshold called the Terminal Total....
Data released hours after the Merge prompted concerns about the alleged centralization of PoS. Analysis from Santiment indicates that 46.15% of Ethereum’s PoS nodes are controlled by only 2 addresses.Hours after the Merge, the first address has validated about 188 blocks or 28.97% of the nodes, and the second has validated 16.18%, or 105 blocks. On Twitter, the data became a controversial topic as users debated about the impact of the Merge on centralization for the largest network in the world. According to our #Ethereum Post Merge Inflation dashboard, 46.15% of the #proofofstake nodes....
BitMEX, too, highlighted the need for a complete redevelopment of Flashbots or a similar system to mitigate unforeseen complications in an era after the Merge. Following the completion of The Merge upgrade, Ethereum (ETH) transitioned into a proof-of-stake (PoS) consensus mechanism, helping the blockchain become energy efficient and secure. However, mining data reveals Ethereum’s heavy reliance on Flashbots — a single server — for building blocks, raising concerns over a single point of failure for the ecosystem.Flashbots is a centralized entity dedicated to transparent and efficient....
The Bellatrix hard-fork is the final update on the Beacon chain that will prepare it for the Merge, and if node operators are not updated to the latest client, they risk syncing to the pre-fork chain. Ethereum co-founder Vitalik Buterin is reminding node operators to upgrade their clients before the Bellatrix “hard fork,” slated for Sept. 6. Buterin said that the scheduled upgrade will be the final update that prepares the Beacon chain (proof-of-stake chain) for the Merge.The merge is still expected to happen around Sep 13-15. What's happening today is the Bellatrix hard fork, which....
The mammoth task of merging Ethereum’s mainnet and Beacon Chain is finally complete, but what are the risks? What are the risks and flaws of the Ethereum merge?One of the foremost concerns regarding the Merge is that of centralization. Another potential concern is the risk of scams, as the general public may not be aware of how the Merge works.A fundamental flaw in the Merge is that it will likely increase the concentration of power within the network. The more valuable a staker’s position is, the more they will be rewarded for validating blocks. This could lead to a situation where a....