According to a recent blog post, Ethereum’s co-founder, Vitalik Buterin, has expressed concerns about expanding the functions of Ethereum’s consensus. In his article titled “Don’t overload Ethereum’s consensus,” Buterin stressed the importance of keeping the blockchain’s simplicity intact and cautioned against using the network consensus for additional purposes. Over the years, there have been suggestions to use Ethereum’s social consensus for various applications such as price and data oracles, re-staking initiatives, and layer-1 soft forks to address issues with layer-2 projects.
Buterin warned that each extension of the blockchain’s core functionality increases its vulnerability and poses significant risks to the ecosystem. For example, the creation of ETH/USD price oracles could lead to a contentious fork, where holders or validators aim to vote in a specific way to receive a bribe. Though, Buterin acknowledged the need for improved oracles and emphasized the importance of considering a case-by-case approach due to the differences among various problems.
The expansion of Ethereum’s consensus mechanism not only adds costs and complexities but also poses risks associated with being a validator. Buterin advocated for preserving the chain’s simplicity, supporting cautious re-staking approaches, and finding alternative security strategies to enhance security goals. These concerns arise as Ethereum recently transitioned from a proof-of-work to a proof-of-stake consensus mechanism, placing more emphasis on validator duties and security issues.
Compiled by Coinbold
Don't overload Ethereum's consensus:https://t.co/07tzyCrZcJ
— vitalik.eth (@VitalikButerin) May 21, 2023