The Black Swan Event That Could Cause a Fork in Ethereum (Again) - Ep. 600

Published: Jan. 26, 2024, noon

Sign up for our free newsletter here!\nListen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.\n\nThis week a major potential risk to Ethereum was highlighted by a bug that surfaced in Nethermind, a minority execution client. While the bug was fixed quickly, it raised the question of what would happen to the blockchain if Geth, which is used by more than two-thirds of validators and so is considered a \u201csupermajority client,\u201d had a bug. The situation could potentially result in a catastrophic fork of Ethereum.\xa0\nEthereum developer Lefteris Karapetsas joined Unchained to discuss the different scenarios of what could happen, the potential impact of a supermajority client issue on staking services such as Lido, why he feels the incentive system is poorly designed, and what other solutions are out there to address the lack of client diversity.\xa0\n\nShow highlights:\n\nWhat a consensus issue is in Ethereum and what happened with Nethermind last weekend\n\nWhy it would be a big problem if a supermajority client had a bug\n\nThe potential impact on staking services such as Lido\n\nWhy Lefteris feels like he is reliving the historic Ethereum DAO hack all over again\n\nWhether the largest entities running nodes will start pursuing client diversity\n\nHow the data on the prevalence of specific Ethereum execution clients is not verifiable or programmatic, making it less transparent and difficult to analyze\n\nWhy Lefteris believes that the incentive system is not designed to achieve client diversity\n\nWhether there are developments in the works to try to solve the lack of client diversity\xa0\n\nThank you to our sponsors!\n\nPopcorn Network\n\niTrustCapital\n\nGuest\xa0\n\n\nLefteris Karapetsas, Founder of Rotkiapp\n\nPrevious appearance on Unchained: Is Code Law? Should the Hacker Be Punished? The DAO Creators Disagree\n\n\nLinks\n\nUnchained:\xa0\n\nMost Ethereum Staking Pools Are Using Just One Execution Client, Potentially Increasing Risks to the Network\n\nThe Chopping Block: Data Availability & Why It\u2019s Important\n\nCoinDesk: Bug That Took Down 8% of Ethereum's Validators Sparks Worries About Even Bigger Outage\n\n\nThe Defiant: Ethereum Software Client Centralization Sparks Concern\n\n\nCrypto.news: Nethermind rolls out urgent fix for block processing bug in Ethereum client\n\n\nLukasz Rosmej\u2019s tweet that minority client Nethermind had a consensus issue\n\nLefteris\u2019 tweet on a supermajority Ethereum client bug\xa0\n\nCoinbase CEO Brian Armstrong's tweet on what he\u2019d do in a censorship resistance request scenario\n\n\nRun the majority client at your own peril! by Dankrad Feist\n\n\nLearn more about your ad choices. Visit megaphone.fm/adchoices