The Ethereum network can withstand censorship risks in rapid and lengthy term, based on Ethereum community member and investor Ryan Berckmans.
The ban of Ethereum-based privacy tool Tornado Cash by U.S. government bodies earlier this year left many wondering whether Ethereum transactions might be also vulnerable to censorship, especially after Ethereum’s imminent transition to some proof-of-stake system.
A prevalent problem is that entities controlling a sizable slice of staked Ether (ETH), for example Coinbase or Kraken, would start censoring transactions to conform with U.S. sanctions. That’s an unlikely scenario, based on Berckmans, who sees our prime centralization of staked ETH like a temporary issue.
As time passes, the expense of admission to the staking business will drop because of the “maturity of open-source tools and industry expertise along with the generally reduced risk profile,” stated Berckmans. That will permit increasingly more players to go in the staking business, thus lowering the dominance of huge staking pools.
“The concept that these can in some way sustainably censor user transactions or modify the fork choice in Ethereum, it’s simply not a reputable idea,” Berckmans stated.
Furthermore, based on Berckmans, the Tornado Cash ban within the U . s . States would be a policy mistake that’s unlikely to lead to more government sanctions. He stated that U.S. policymakers will probably acknowledge the error and have a better method of Ethereum, that is “inherently aligned with America’s interests.”
“Ethereum is all about permissionless innovation, free enterprise, property legal rights, globalization,” Berckmans described.
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