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Buterin helping to strategize against Ethereum 51% attack possibility

Published 03/12/2021, 05:32 PM
Updated 03/13/2021, 07:40 PM
Buterin helping to strategize against Ethereum 51% attack possibility

Ethereum developers recently proposed a network change called EIP-1559 — a proposal meant to combat the network's rising transaction fees. Expected to take effect in July of this year, the move would send a part of every transaction fee to the Ethereum network itself. Ether allocated in this manner would then be burned, reducing the number of coins in circulation.

This change would also decrease the amount of rewards going to the network's miners, leading some to protest the move. A vocal group of participants have since begun to advocate for a demonstrative network takeover, which could threaten the security of the network. The group, however, does not seemingly intend to overthrow Ethereum, insisting that they only desire to show the viability of such an attack. Buterin and other Ethereum developers have since responded by planning defensive efforts.

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Latest comments

so much about safety of cryptocurrency and it's ability to withstand manipulation.
So much misunderstanding, im thankful for it. Allowed me to buy cheap
right :-) see you on the way down.
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