A 51% attack on Ethereum 2 would not be fatal according to Vitalic Butyrin, amid concerns that the locker yETH may collect enough ether to launch an invasion
Ethereum co-founder Vitalik Butyrin dismissed concerns that a 51% attack on Ethereum 2.0 would be “fatal”.
This scenario emerged as a result of the increasing popularity of the Yearn. finance Treasury, which collected more than 137,000 ETH in its first day. Arcan Assets Chief Intelligence Officer Eric Wall suggested that this meant that Yeth Walt’s officers would likely attempt to take control of the Ether sufficiently to attack Ethereum 2.0:
ITT: We’ve come up with fun ways for treasury strategists to take advantage of the fact that YETH will likely control more than enough stakes for a 67% ETH 2.0 PoS attack.
But Buterin mitigated the risks associated with attacks that target 51% of attacks targeting the ETH 2.0 network, the Proof of Stake (PoS) network, saying that a malicious actor could “attack only once. , “But will cut off quickly or he will lose control of the network. Coins required to sustain the attack:
Seizing the opportunity to compare POS with Pos of Work (PoW), Butyrin emphasized the increased risk on 51% attacks of the Work Network (such as Bitcoin and Ethereum 1) due to the lack of pool coins and they’re There is no possible way to remove devices [attackers]] without removing someone else’s devices. He terminated the post by saying:
Ethereum Classic (ETC), which uses Poyer, suffered 3 attacks in the past month, rising 51% of major network security concerns.
However, many in the cryptocurrency community doubt the difficulty of determining the correct division and the fact that the attacker will continue to control the main chain.
However, Sebastian Mungwa of the social finance platform Real Vision pointed out that the increased risk of attack on Defy should reduce the risk of attack by 51% over time. This would make it increasingly difficult for the yETH vault to obtain more than 51% of the ether.
The competition will be fierce. The free market is less likely that it will exist. And people are building. More use cases = less risk for it.
The YETH Vault allows users to lock Ethereum, then the protocol automatically shifts to the highest return or interest rate strategy. Yearn is the sixth most popular DeFi project with $ 876 million according to DeFi Pulse, the company behind YETH.
