The latest article by Ethereum inventor Vitalik Buterin has raised concerns about certain technologies and applications in the Ethereum ecosystem. The article highlighted the risks associated with using the Ethereum validator set and social consensus for purposes beyond the basic Ethereum protocol rules. Here are the details…
Vitalik Buterin published the article: What did he say for Ethereum?
Vitalik Buterin, the co-founder of ETH, as we have also reported as Kriptokoin.com, published an article. He published a lengthy blog post warning against the dangers of “stretching” Ethereum’s consensus beyond its core functions of validating blocks and securing the network. ETH consensus is the process by which blocks are validated by the proof-of-stake mechanism implemented with “the Merge” in September 2022.
Don't overload Ethereum's consensus:https://t.co/07tzyCrZcJ
— vitalik.eth (@VitalikButerin) May 21, 2023
In his May 21 blog post titled “Don’t overload Ethereum’s consensus,” Buterin warned that using ETH’s network consensus for other things “may introduce high systemic risks to the ecosystem and should be opposed.” The co-founder of Ethereum was essentially promoting the preservation of the minimalism of the Blockchain.
Buterin: Don’t overload the network
Buterin said a number of proposals or ideas have been put forward over the years proposing that ETH social consensus be used for other purposes, such as price and data oracles, re-staking attempts, and using layer-1 soft-forks to rescue layer-2 projects if they go into trouble. stated. However, he mentioned that this situation has the potential to harm ETH with the following statements:
Since the blockchain core has the greatest economic weight and the largest community following it, there is a natural urge to try to expand this core with more functionality. But each extension makes the kernel itself more fragile.
Emphasis on “Ultimate oracle”
On the other hand, the consensus mechanism of the Ethereum network is extremely secure, with a large number of validators finalizing a block every 6.4 minutes. In the event of a crash, the ETH community of thousands of developers and users closely monitors the chain’s recovery. Moreover, the protocol rules ensure that attackers are severely punished.
The article identifies several techniques that potentially overload Ethereum’s consensus and social consensus. These include the “ultimate oracle”, re-staking, and L1-driven recovery of L2 projects. The article also provides examples to illustrate the distinction between low-risk applications and high-risk applications. It also highlights the potential risks of taking Ethereum consensus beyond its core functions. The inclusion of real-world price indices or other external information can lead to conflicts and divide the community.
There are a few more dangers to the Ethereum network
The article warns of the dangers of getting involved in political events or legal disputes that could undermine ETH’s role as a neutral technical platform. Expanding ETH’s consensus responsibilities increases complexity and risks for validators. It can also affect the decentralized nature of the platform by creating incentives for decision-making to be delegated to centralized entities. Additionally, the possibility of chain splits can favor larger projects, creating a dynamic too large to fail and suffocating smaller projects.
In conclusion, Vitalik’s article highlights the importance of maintaining Ethereum’s core consensus functions and minimalism. While innovation is encouraged, placing additional responsibilities on Ethereum’s consensus carries high systemic risks. By carefully assessing risks and implementing appropriate solutions, the ETH ecosystem can maintain its security and resilience.
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