Friday, September 30, 2022
HomeCryptocurrencyVitalik Buterin Is Ready to Burn Validators' Stakes via Social Consensus If...

Vitalik Buterin Is Ready to Burn Validators’ Stakes via Social Consensus If They Tolerate Censorship

Vitalik Buterin, the co-founder of Ethereum (ETH), has publicly shown that he considers the underway censorship as an attack on the Ethereum network. He said he’s ready to burn stakes of validators, such as Coinbase, Lido Finance, and Kraken, via social consensus if they decide to comply with regulators and censor at the protocol level.

In a tweet on the 15th of August, an Ethereum community member and blogger, Eric Wall, posted a poll to know what community members would do if crypto service providers agree to censor the Ethereum protocol.

Read Also: Vitalik Buterin Speaks on What Ethereum (ETH) and Crypto Should Become in the next 10 Years

Eric Wall tweeted, “Question for the Ethereum community. If a majority of stake chooses A in this poll, will you: X) Consider the censorship an attack on Ethereum and burn their stake via social consensus Y) Tolerate the censorship.”

At the time of writing, the poll remains 3 hours to end and 61.6% of respondents consider censorship an attack on Ethereum, while only 9.2% agree to tolerate it.

Vitalik Buterin Reacts

After hours of posting the poll on Twitter, Eric Wall, the author of the poll called out Ethereum community members for low turnout. This seemingly prompted Ethereum co-founder to respond.

Eric wrote, “I can’t believe how vacant the response from the Ethereum community has been on this. Wasn’t the plan always to slash censoring attackers? Or make them bleed out to 0 by freezing their stake?”

In response to Eric’s agitation, Vitalik Buterin said he has voted in favor of (X), which implies that he sees censorship as an attack on Ethereum and if Coinbase and others choose to align with regulators, he’s ready to burn their stakes via social consensus.

Read Also: Vitalik Buterin: Ethereum’s The Merge Is Not Yet Priced In


Meanwhile, the tweet that gave birth to this thread was shared by Lefteris Karapetsas, the founder of Rotkiapp, an open-source portfolio tracking app, since it’s being speculated that over 66% of the beacon chain validators are ready to adhere to OFAC regulations.

In the tweet, Lefteris wrote, “Question for @LidoFinance, @coinbase, @krakenfx, @stakedus, @BitcoinSuisseAG. If regulators ask you to censor at the Ethereum protocol level with your validators will you: A) Comply and censor at protocol level B) Shut down the staking service and preserve network integrity.”

Follow us on Twitter, Facebook, Telegram, and Google News

Tobi Loba
Tobi Loba
Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.

Latest News & Articles

Recent Comments