Transitioning To Proof Of Centralization? - Ethereum network, the aftermath.


Transitioning To Proof Of Centralization? - Ethereum network, the aftermath.

flashbots ETH.jpg

As many may already be aware, the successful transition that occurred on the Ethereum blockchain was termed a move away from "energy consumption", the merge created misconceptions that fees on the chain were going to be lowered respectively, which was obviously false, just as price speculations and hype failed.

Added to this, concerns of centralization followed as people considered the move to proof-of-stake to be a plot to centralize the chain.

Flashbots account for over 82% of relay blocks on Ethereum - centralization concerns increase

Flashbots? What are those? Apparently, some centralized servers where transactions can be privately rendered for validation, keeping other participants of the network away, thus no broadness or fairness in block verification.

Accordingly to the report, over 82% of relay blocks were made by Flashbots, on average, 0.178 ETH per block with a total value of over 676 ETH.

CBDCs on Ethereum?

It's the funniest thing to come up with, but some are actually beginning to call out the network to be a world economic forum, with a WEF coin, hinting at what is termed "Ethereum, the global CBDC" screw-up.

Don't get this twisted, this is not hate speech, I find Ethereum very fascinating, but that's one thing, pay attention to the word referencing the Ethereum network, it's a complex system typically made so for you guess?

There, I'm sure the relationship can be spotted. Notwithstanding, everyone seems to care so much about Ether, the native currency of the network when there are things like the hundreds of projects built on the network with belief that it's a safe haven.

If Ethereum ends up centralized, then a huge portion of the crypto space is screwed, literally. Let's take a moment back to look at the industrial economy, most of what we would perceive as decentralized structures with actual economic value, showing resilience and strength in passing times is actually built on Ethereum.

Yes, many other blockchains have similar and sometimes better alternatives, but there’s this value on the Ethereum network that shouldn’t go to waste.

So much has been integrated into the network already that failing as a blockchain would extract a lot of value from the cryptocurrency ecosystem.

What's more to say? Or do? We can only watch closely and trade wisely, the waters ain't so shallow.

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