Although the Ethereum Merge was hailed as a significant improvement to the blockchain network, the switch to proof-of-stake theoretically makes it more susceptible to attack, as reported by Cointelegraph.
The security researcher highlighted to Cointelegraph that, in contrast to proof-of-work (PoW) systems, a proof-of-stake (PoS) system lets node validators know ahead of time what blocks they will validate, allowing them to organise assaults.
The security specialist, who requested anonymity, is a layer-2 proof-of-stake blockchain developer and security researcher. The researcher explained that if validators are able to line up two consecutive blocks to validate, then an exploit may conceivably take place on the post-Merge Ethereum network. “If you control two consecutive blocks, you can start an exploit on block N and finish it on block N+1 without having any arbitrage bot coming in and fixing the price that you have manipulated in between.”
Although it is also possible for miners to validate successive blocks in PoW networks, the expert claimed that doing so is “pure luck” and does not provide the miner with enough time to prepare for an assault. Although it is a challenging problem to resolve, if it is, proof-of-stake security will [further] enhance since they will be protected from those attack routes, Cointelegraph noted.
Since the consensus rules were created to economically incentive validators to accurately validate incoming transactions and any behaviour to the contrary would have their ETH stake reduced, Ethereum validators are subject to slashing in PoS.
According to Blocknative’s Ethereum Merge Countdown, the Ethereum Merge will eventually occur on September 15 at around 2:30 am UTC. The Ethereum network will become more scalable and energy-efficient after the switch to PoS.
(With insights from Cointelegraph)
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