F2Pool Co-founder Responds to Ethereum Blockchain Manipulation Allegations

F2Pool Co-founder Responds to Ethereum Blockchain Manipulation Allegations

The co-founder, Chu Wang of F2Pool has responded to allegations that his mining pool manipulates Ethereum block timestamps utilizing the PoW consensus, to “obtain consistently higher mining rewards.”

Crypto lecturer Aviv Yaish, software program algorithm developer Gilad Stern, and laptop scientist Aviv Zoharv launched a analysis paper on August 5, which claimed that the mining pool has been partaking in a “consensus-level” assault on Ethereum over the past two years to achieve an edge over “honest” miners.

Wang took to Twitter to reply by saying that “we respect the *consensus* as is”, implying that deliberately exploiting the system’s guidelines doesn’t essentially imply that guidelines have been damaged.

The analysis paper alleges that F2Pool is among the miners that has been utilizing the technique of timestamp manipulation to earn greater rewards.

Yaish mentioned, “Although most mining pools produce relatively inconspicuous-looking blocks, F2Pool blatantly disregards the rules and uses false timestamps for its blocks.” He additionally added that F2Pool has been doing this for the previous two years.

Wang didn’t deny any of those allegations. He as a substitute owned up to the proof and implied that the timestamp manipulation was being carried out deliberately. 

This technique of timestamp manipulation is feasible as a result of the present proof-of-work consensus legal guidelines of Ethereum embody a vulnerability that provides miners a “certain degree of freedom” when setting timestamps, which implies that false timestamps will be created.

However, researchers consider that this vulnerability shall be solved after the blockchain’s transition to proof-of-stake through the Merge, which makes use of a unique set of consensus guidelines.

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Compiled by Coinbold

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