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Home»ETHEREUM NEWS»Ethereum validators’ reliance on Geth has sparked Coinbase’s client diversity push.
ETHEREUM NEWS

Ethereum validators’ reliance on Geth has sparked Coinbase’s client diversity push.

By Crypto FlexsJanuary 23, 20242 Mins Read
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Ethereum validators’ reliance on Geth has sparked Coinbase’s client diversity push.
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Coinbase, a leading cryptocurrency exchange, announced plans to diversify its execution clients amid concerns about Gothereum (Geth) monopolizing it.

on January 23rd name Acknowledging the growth of the industry, Coinbase Cloud on social media platform

“The fallback execution client has come a long way. Therefore, we are conducting an updated technical assessment with the goal of adding another execution client to our infrastructure,” Coinbase said.

The Brian Armstrong-led exchange added that it would release an official update on the process by the end of February.

Geth dominance raises concerns

Geth is an Ethereum execution client responsible for transaction processing and smart contract deployment. According to Ethereum client diversity data, 84% of Ethereum validators rely on it, raising security concerns about Ethereum’s dominance within the community.

Concerns grew after a bug issue briefly took all Nethermind validators (about 10% of the network) offline. Although an immediate fix was implemented, community members highlighted the potential impact a similar incident would have on the Geth.

Lachlan Feeney of Labrys, the development studio behind MEV Watch, a tool to address censorship risks on the Ethereum blockchain, explicitly warned that stakers running Geth would face the possibility of losing up to 100% of their assets if a serious bug is discovered. I did. Aborts finalization of the network chain.

“Stakers currently running Geth most likely do not fully understand the risks associated with running a running client. Many people incorrectly assume that if a bug occurs, a patch to fix the problem will be released within hours, losing very little ETH in the process. Many people don’t realize the risk of proving an invalid block that gets stuck in an invalid final chain, but it also guarantees that most of your ETH will be burned. This is a real risk that has the potential to materialize,” Feeney wrote.

The post Ethereum validators’ reliance on Geth sparks Coinbase’s client diversity push appeared first on CryptoSlate

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