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Recent Ethereum upgrade, Altair, has helped ETH to reach a new ATH. But after this upgrade to PoS, the Ethereum PoS chain can be attacked by 3 methods. This white paper was submitted by Stanford University’s computer scientist and Ethereum Foundation describing three attack vectors on the Proof of Stake (PoS) Ethereum chain.
Almost every crypto in this world is working through a proof of work (PoW) mechanism. But, they are trying to convert towards Proof of Stake (PoS) after influencers like Elon Musk pointed out high energy consumption for the PoW method. Like everyone else, EThereum is also trying to convert its chain to PoS. But a recent paper by the computer scientist of Stanford University and Ethereum Foundation revealed that the Ethereum PoS chain can be attacked in 3 methods.
Ethereum PoS chain can be attacked in 3 methods:
This academic paper is titled” Three Attacks on Proof-of-Stake Ethereum chain”. The author of this white paper are Caspar Schwarz-Schilling, Joachim Neu, Barnabé Monnot, Aditya Asgaonkar, Ertem Nusret Tas, and David Tse. Two recent attacks on the Ethereum PoS chain were presented recently and authors have refined the techniques. In addition to the refinement of the first two which theoretically create “short-range reorganizations” and an “adversarial network delay,” the computer scientists came up with a third attack.
As ETH has reached a new ATH so, the people also started to discuss this new paper published. Tuur Demeester, a BTC proponent, has shared two quotes from the white paper that how the Ethereum PoS chain can be attacked in 3 ways.
The critics of Ethereum saw an opportunity and started to highlight these possible vulnerabilities associated with these attacks after the network’s transition to the PoS system. Some heated comments were passed by the Founder of the Chia project and one of the supporters of the Ethereum PoS chain replied that “Let’s revisit your tweet in a year and see what Chia has achieved vs ETH”.
If security threats come with the transition of the Ethereum network to PoS then management must keep these vulnerabilities in mind and try to resolve these issues. For more content please click here.