On this episode of SlateCast, CryptoSlate’s Akiba speaks with Lachlan of Laybrys, the company behind the website mevwatch.info, about censorship issues on the Ethereum network, particularly when validators outsource block production to MV Boost relays. We had a discussion about Ability to censor transactions. This has resulted in a situation where around 90% of transactions on the Ethereum network are censored.
Akiba explains that the censorship is due to concerns about compliance with OFAC (Office of Foreign Assets Control) sanctions. Validators can use MV Boost her relay to censor transactions coming from certain countries or involving certain individuals and organizations, and to face fines and other penalties for violating these sanctions. are avoiding.
The podcast will then delve further into the motivations behind censorship and its impact on the Ethereum network. Lachlan points out that validators are basically stuck in a catch-22 because they can make more profit by outsourcing block production to MV Boost his relays, but they don’t want to do so. If you quit, you risk being sanctioned. They also discuss the fact that Ethereum creator Vitalik Buterin has been relatively silent about the issue and the community’s role in addressing it.
The conversation then evolves to discuss potential consequences of censorship, such as the possibility of introducing more restrictive regulations and the possibility of Ethereum being censored entirely. We also consider the possibility that short-term fixes, such as Mempool, may be provisionally implemented.
Censorship has ethical implications, such as the fact that OFAC can effectively control what happens on the Ethereum network, and the potential for legitimate use cases such as Tornado Cash to be affected. Speakers will also discuss the role of the community in addressing this issue and the importance of showing regulators that censorship is not as simple as writing new rules.
Solutions may be implemented at the protocol level, and the importance of lowering the level of censorship on the Ethereum network in the short term. It emphasizes the need to avoid creating an enabling precedent.
Overall, the podcast highlights the complex issue of censorship on the Ethereum network and the consequences it can have on cryptocurrencies and their users. It also emphasizes the need to implement solutions as soon as possible to protect the decentralized nature of Ethereum and prevent possible further censorship.
For more information, watch the full episode above now.
