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Coinbase, a major cryptocurrency exchange, announced plans to diversify its execution clients amid concerns about go-ethereum (Geth) dominance.
On January 23 statement On social media platform
“Alternative execution clients have come a long way, so we are conducting an updated technical evaluation with the goal of adding another execution client to our infrastructure,” Coinbase said.
The Brian Armstrong-led exchange added that it will publish a formal update on the process at the end of February.
Geth domain raises concern
Geth is an ethereum execution client responsible for handling transactions and smart contract deployment. According to the diversity of ethereum clients data84% of ethereum validators depend on it, raising security fears within the community over its dominance.
Concerns increased after a error problem briefly disconnected all Nethermind validators (about 10% of the network). Although a quick fix was implemented, community members highlighted the potential impact of a similar event on Geth.
Lachlan Feeney of Labrys, the development studio behind MEV Watch, a tool that addresses censorship risks on the ethereum blockchain, explicitly warned that participants running Geth face the prospect of losing up to 100% of their assets in in case a critical error is discovered, which instantly stops network chain completion.
“Participants running Geth today likely do not fully understand the risk associated with running a supermajority execution client. Many incorrectly assume that in the event of a bug, a patch will be released within a few hours that will resolve the issue, losing very little eth in the process. Many are not aware of the risk of certifying an invalid block which locks you into an invalid finalized chain, virtually guaranteeing that most of your eth will be burned. “This is a real risk that has the potential to materialize,” Feeney wrote.
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