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Although Ethereum Merge is touted as a significant upgrade to the blockchain network, the transition to a PoS mechanism theoretically makes it more vulnerable to attacks.
The security researcher explains that, unlike PoW systems, PoS systems pre-declare to node validators which blocks will be validated. This facilitates hackers to make attack plans.
The researcher further explained that there could theoretically be mining on the Ethereum blockchain after The Merge if validators took control over two consecutive blocks.
“If you control two blocks in a row, you can start mining on block N and end it on block N+1 without having any bots control spreads that fix the price level that you have manipulated in the middle.”
From an economic security standpoint, this vulnerability could be an opportunity for attacks.
The expert said that although miners can also validate consecutive blocks in a PoW network – this leaves crooks (possibly miners) without having time to plan an attack.
The security researcher argues that the above could cause Ethereum to sacrifice some of its security strengths when The Merge goes into effect:
“When we compare PoS with PoW on the Ethereum network, PoW actually has stronger security […] and economic guarantees.”
In fact, PoS still has enough security, and theoretically, it is not as secure as Proof of Work is not so important. It is still a very secure system, the expert added. And Ethereum developers are still working on fixing the block vulnerability in a row.
It’s a tough problem to solve, but security on PoS is even more guaranteed if that’s done. This mechanism is resistant to attack threats.
Ethereum Merge is finally set to take place on September 15 at around 2:30 a.m. UTC, according to Blocknative’s Ethereum Merge Countdown. The transition to PoS makes the Ethereum network more scalable and energy efficient.
