Will Ethereum 2.0 be vulnerable to censorship? Industry professional explains

According to Ryan Berckmans, an investor and member of the Ethereum community, the Ethereum network will be able resist censorship risks in both short- and long-term.

Many people wondered if Ethereum transactions were at risk of being censored after the U.S. ban on Tornado Cash, an Ethereum-based privacy tool, earlier this month. This was especially in light of Ethereum’s transition to a proof of stake system.

There is widespread concern that entities holding large amounts of Ether (ETH) such as Coinbase and Kraken could start censoring transactions in order to comply with U.S. sanction laws. Berckmans believes that this unlikely scenario is temporary and sees high centralization in staked ETH as a temporary problem.

Berckmans stated that the cost of entering the staking industry will decrease over time due to “the maturity of open-source tools, industry expertise as well as the generally lower risk profile.” This will make it easier for more people to get into the staking industry, reducing the dominant position of large staking pool.

Berckmans stated that the idea that these could somehow sustainably censor user transactions, or alter the fork choice in Ethereum is not credible.

Berckmans also stated that the Tornado Cash ban in America was a policy error and unlikely to lead to more government sanctions. He stated that U.S. policymakers will likely admit the error and adopt a more favorable approach towards Ethereum, which is “inherently aligned to America’s interests.”

Berckmans explained that Ethereum is all about permissionless innovation and free enterprise.

You can watch the entire interview on our YouTube channel. Don’t forget about to subscribe!

https://cointelegraph.com/news/will-ethereum-2-0-be-vulnerable-to-censorship-expert-explains

Close Bitnami banner
Bitnami