Vitalik Buterin Advocates for Higher Block Finality Threshold to Prevent 51% Attacks
Vitalik Buterin– On September 16, 2024, Ethereum co-founder Vitalik Buterin delivered a compelling presentation at Ethereum Singapore 2024, emphasizing the critical role of solo staking in ensuring Ethereum’s future security and decentralization.
The Importance of Solo Staking for Network Security
During his speech, Buterin highlighted the risks posed by centralized entities and how solo stakers contribute to the network’s protection. Solo stakers are individuals who independently stake their Ether (ETH) without relying on third-party services, centralized entities, or staking pools. This method contrasts sharply with staking pools, where funds are aggregated and managed collectively.
Buterin stressed that solo stakers play a vital role in reducing reliance on centralized entities, thereby enhancing the network’s decentralization. He noted, The stronger that we can have solo stakers, I think there is a lot of ways in which that can serve as this really important extra layer of defense regarding security and privacy.
Enhancing Decentralization Through Solo Staking
Buterin emphasized that a diverse and uncoordinated group of solo stakers can significantly contribute to network decentralization. By doing so, they provide a valuable decentralized layer of protection that helps secure Ethereum against potential attacks and vulnerabilities. Even a small percentage of solo stakers can make a substantial difference in strengthening Ethereum’s resilience.
Defending Against 51% Attacks
One of the key points Buterin addressed was the defense against 51% attacks, where a malicious actor gains control over a majority of the blockchain’s computing power. In scenarios where such an attack threatens the network, the critical factor is whether the attacker controls 50-56% or 57% and above.
At a 57% threshold or more, the attacker could finalize blocks and potentially cause a chain split if their actions go unchecked. To mitigate this risk, Buterin proposed increasing the block finality threshold from the current two-thirds requirement to a higher number, such as three-quarters or even more. He explained, “One of the ideas that I’ve been promoting recently is the idea that Ethereum should increase its quorum threshold from two-thirds to a higher number. Either three-quarters or possibly even more.”
Vitalik Buterin’s Stance on Google’s Automated Sign-In
In addition to his insights on solo staking, Buterin recently voiced his support for Google’s automated sign-in feature on social media. His endorsement sparked a discussion about the implications of such services. On September 4, Buterin acknowledged the potential disadvantages of automated sign-in services, such as bridging secure systems via account abstraction. Despite these risks, he suggested that it might be worth considering.
Buterin proposed a security model for servicing wallets that involves giving them a signing key and setting up an M-of-N guardian system. This model would involve a multisig-like approach to protect sensitive data or assets, enhancing overall security.
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