By Shelly Melancon (Switzerland)
There seem to be several what-if scenarios in cryptocurrency, and the 51 percent assault is among the most popular. Currently, the co-founder of Etherum, Vitalik Buterin, has shared his newest thoughts on the subject, focusing on the safety of minor networks.
Size Doesn’t Matter
Buterin established the idea of joint protection in a Reddit post by speculating on if an illegal actor can target a minor network by purchasing over 50% of its tokens and staked tokens. Independent L1s, as well as side chains, he suggested, may risk losing all of it. However, side chains may have a modest advantage in terms of safety. L1s have varying levels of safety, which is largely determined by the manner in which they are decentralized. Try considering the blockchain ecosystem as a pack of L1s.
Furthermore, it isn’t only a matter of size. Cryptocurrencies generated on one network and subsequently utilized on different chains, according to Buterin, might offer a safety concern, he explained. That’s what they imply when they talk about joint safety. Are you as safe as when you were within the bigger network if you hoard cryptocurrencies and accomplish things on the little network, or are you less safe?
Also read:The founder of Ethereum laid out a table with various pairings that he believed would provide the most and least protection to token holders. Buterin says that StarkEx rollup mode, ETH, ZkSync, Optimism, and Arbitrum had all been safeguarded by ETH or would be soon. Avalanche, as well as ETH Classic, on the other hand, weren’t included in that common secured area.
PoW Going Ka-POW in Buterin’s Books
After all, was started and completed, ETH inventor Vitalik Buterin seemed to have a few harsh words for BTC Satoshi Vision. Buterin argued that the PoW consensus method and huge blocks of the chain rendered it simply attackable, sometimes in a BSV/BSV safety configuration.
BTC Satoshi Vision is not the only one who has been chastised. Vitalik Buterin earlier panned Bitcoin Cash and labeled it a flop. The justification for this was not because of the safety of Bitcoin Cash but because of the ecosystem of the initiative. Customers frequently migrate their customers between Decentralized Finance networks to escape hefty gas charges, but Buterin’s comments may cause them to consider the safety implications of their behavior.
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