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Ethereum community suggested holding a soft fork as opposed to OFAC

Vitalik Buterin advocated a hypothetical option to burn shares of major Ethereum validators who would agree to meet the requirements. OFAC at the protocol level. However, there were also those who supported censorship in the society.

“Wasn’t it a plan to reduce the number of attacking censors? Or freeze their deposits to zero them?”, – user Eric Wall reported X.

The author of the initiative created a survey in response to a call by Lefteris Karapetas, the founder of the Rotkiapp protocol, to the largest stake pools such as Lido Finance, Coinbase and Kraken.

He invited them to clarify their position on compliance with the OFAC sanctions regime. [в свете последних событий вокруг Tornado Cash]. Organizations were asked to respond if they were willing to avoid censorship and quit business to preserve the integrity of the network.

Vitalik Buterin reminded Eric Wall X that Proof-of-Stake has a soft fork option enabled by a minority of users (UASF) in the form of the so-called “social consensus”. This requires the approval of the owners of one-third of the assets blocked in the bet. In Ethereum, this is implemented through the inactivity leak mechanism.

Developer nick.eth doubted the success of such a soft fork. He attributed this to the high correlation between users and validators, which would lead to insufficient support for “unpopular” solutions.

Eric Wall X categorically disagreed with this statement.

“Censorship resistance is not a feature of protocol, it is a feature of society” it was stress.

The user urged the largest validators not to comply with OFAC requirements. guessed cutting If the organizations decide otherwise, take stock for all customers and liquidate their business. Eric Wall X admitted that at the current stage this is technically impossible.

Finally, the Ethereum maximalist turned to the bitcoin community and complained in 2017 that they were not properly defending values ​​to support SegWit2x.

“Why is it so crazy that Ethereum is facing similar wars that also require community opposition?” He asked.


A developer named LukeYoungblood, who helped create the Coinbase staking service, emphasized that the bitcoin exchange will abandon the product in order not to violate one of the principles of cryptography – resistance to censorship. According to journalist Colin Wu, Coinbase’s Ethereum validators operate outside the US (for tax purposes), which will make it harder for US regulators to enforce sanctions.

Remember, at the end of July, the Chinese miner Chandler Guo expression The idea of ​​a fork with the advent of an Ethereum fork that will continue to work on the Proof-of-Work algorithm. The resulting ETHPoW asset will allow miners of the capitalized second-largest cryptocurrency to continue working after the merger.

Earlier, supporters of the Ethereum PoW fork called it “inevitable”.

CoinShares experts were skeptical of the prospects for potential ETHPoW, describing it as “impractical”.

Read ForkLog bitcoin news in our Telegram – cryptocurrency news, courses and analysis.

Source: Fork Log



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