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Wednesday, September 28, 2022

Ethereum Becomes More Risky

Ethereum is still in the process of reaching a consensus on its roadmap, according to a recent blog post by blockchain researcher and analyst Yann Alleman. Alleman, who previously worked as an intern at the Ethereum Foundation, explained that Ethereum’s architecture makes it “more susceptible to censorship by miners.” He also noted that while some of these vulnerabilities can be mitigated by introducing so-called “FAST” (Ethereum Friendly Asynchronous Sharding Transition) transactions, this would require more work on the part of developers.

In a recent blog post on his personal website, blockchain researcher and analyst, Yann Alleman explained that ETH’s current architecture makes it “more susceptible to censorship by miners.” The researcher, who was a former intern at the ETH Foundation and ConsenSys, suggested that more work is needed toward the goal of decentralized Ethereum 2.0 in order to ensure security for users.

Ethereum Might Become More Vulnerable

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Ethereum is one of the oldest cryptocurrencies on the market today. It has faced several challenges over its 10 years in existence — including scaling issues, hacks and scams — but has largely retained its popularity as a reliable platform for decentralized applications (DApps).

In order to achieve further decentralization on Ethereum 2.0 will require significant architectural changes from both protocol developers as well as users themselves

ETH 2.0 is still in progress and the consensus mechanism is being discussed by the community, with some arguing that it should be based on a proof-of-stake model.

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For now, ETH remains one of the most popular blockchains out there, with developers creating new smart contracts every day and blockchain startups launching ICOs on top of its network.

Whether ETH will continue to be successful in this space remains to be seen as more competitors emerge with their own unique designs for building decentralized applications on top of their platforms; however, we can expect these discussions about how best to achieve consensus will continue well into 2020 and beyond.

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