Security Expert Says Ethereum PoS Network Is More Vulnerable Than PoW
Ethereum Merge is approaching in the welcome of the entire crypto community. This is a historic upgrade that marks the transition from PoW to PoS. However, according to experts, a proof-of-stake (PoS) system informs node validators in advance what blocks they will validate, thus enabling them to plan attacks.
According to Cointelegraph, a security researcher, who requested anonymity, is a blockchain developer and security researcher working on a proof-of-stake layer 2 blockchain.
According to the researcher, it is theoretically possible to have a mining on the Ethereum blockchain after the Merge. Because unlike proof-of-work (PoW) systems, proof-of-stake (PoS) systems inform node validators in advance which blocks they will validate, thus allowing attackers to attack plan.
Having managed validators queue up two consecutive blocks for this validation creates an easier opportunity for an attack to occur.
“If you control two consecutive blocks, you can start an exploit on block N and finish it on block N+1 without having any arbitrage bot coming in and fixing the price that you have manipulated in between.”
The expert also said that in a PoW system, an attacker can also validate consecutive blocks, but that depends on luck. That makes it take more time for the attacker to execute the plan.
The security researcher argues that Ethereum will be forgoing some strength in security when the Merge takes effect.
“As we stand right now [with] the Ethereum proof-of-work versus Ethereum proof-of-stake, Ethereum proof-of-work does have stronger security […] and economic guarantees.”
“But that being said […] proof-of-stake still has sufficient practical security [and] it doesn’t really matter that it’s theoretically not as secure as proof-of-work. It’s still a very secure system,” he added.
“Ethereum is working on fixing [the consecutive block issue]. It is a hard problem to solve, but if that gets done, then proof-of-stake security will [further] increase [as] they’ll have protection against those attack vectors.”
The expert also added
According to Blocknative’s The Merge Countdown, this event will eventually occur on September 15 at around 2:30am UTC. The Ethereum network will become more scalable and energy-efficient after the switch to PoS.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Security Expert Says Ethereum PoS Network Is More Vulnerable Than PoW
Ethereum Merge is approaching in the welcome of the entire crypto community. This is a historic upgrade that marks the transition from PoW to PoS. However, according to experts, a proof-of-stake (PoS) system informs node validators in advance what blocks they will validate, thus enabling them to plan attacks.
According to Cointelegraph, a security researcher, who requested anonymity, is a blockchain developer and security researcher working on a proof-of-stake layer 2 blockchain.
According to the researcher, it is theoretically possible to have a mining on the Ethereum blockchain after the Merge. Because unlike proof-of-work (PoW) systems, proof-of-stake (PoS) systems inform node validators in advance which blocks they will validate, thus allowing attackers to attack plan.
Having managed validators queue up two consecutive blocks for this validation creates an easier opportunity for an attack to occur.
“If you control two consecutive blocks, you can start an exploit on block N and finish it on block N+1 without having any arbitrage bot coming in and fixing the price that you have manipulated in between.”
The expert also said that in a PoW system, an attacker can also validate consecutive blocks, but that depends on luck. That makes it take more time for the attacker to execute the plan.
The security researcher argues that Ethereum will be forgoing some strength in security when the Merge takes effect.
“As we stand right now [with] the Ethereum proof-of-work versus Ethereum proof-of-stake, Ethereum proof-of-work does have stronger security […] and economic guarantees.”
“But that being said […] proof-of-stake still has sufficient practical security [and] it doesn’t really matter that it’s theoretically not as secure as proof-of-work. It’s still a very secure system,” he added.
“Ethereum is working on fixing [the consecutive block issue]. It is a hard problem to solve, but if that gets done, then proof-of-stake security will [further] increase [as] they’ll have protection against those attack vectors.”
The expert also added
According to Blocknative’s The Merge Countdown, this event will eventually occur on September 15 at around 2:30am UTC. The Ethereum network will become more scalable and energy-efficient after the switch to PoS.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
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