Vitalik Buterin: 51% of the attacks could be addressed by timeliness detectors on Ethereum 2.0

By Selena On Feb 15, 2020

The strategic balance between technology development and marketing efforts to promote a project remains a compassionate challenge for both cryptocurrency giants and early-stage groups. Perhaps Ethereum (ETH) 2.0 should reconsider its marketing activities. Does Vitalik Buterin agree? Besides, Buterin said that a 51% attack – which is harmful to Blockchain – can be solved by timeliness detectors.

The concept of time detectors will eliminate the possibility of imposing censorship on Blockchain

According to Buterin, there are three ways to tackle these three challenges and customers will know:

Whether or not a “sufficiently bad” 51% attack has occurred.
What is the “correct” chain to converge?
Which validator to blame the attack?

This analysis will be conducted through a randomly selected network of validators. They will check the timestamp of every block and find if it arrives on time. So only blocks that arrive on time will be played back on the leading network with the signatures of validators.

Besides, such time detector concepts will eliminate the possibility of imposing censorship on Blockchain. Clients will not support any part of the Blockchain that rejects ‘fair’ blocks.

Most of the community of Ethereum researchers (ETH) appreciate this concept. Some of them have even asked if the proposed techniques are suitable for the early stages of Ethereum 2.0. The Proof-of-Stake version of the Ethereum protocol will be launched in 2020.

Vitalik Buterin on Ethereum 2.0: More Users, more valuable software

Buterin is certain that Ethereum will delineate great technological solutions, but awareness of its progress is still deficient. The story with Ethereum Layer-1 scalable solutions like optimistic rollup/zkrollups looks quite similar. They are progressing well but certainly lack marketing promotion efforts. And, indeed, great products cannot be sold on their own. People need to know about them first!

Two points:

1. Marketing and community building is also a type of “building”. This is actually the core issue- marketing is seen as a separate, unnecessary thing by engineers.

2. Right now the focus is 100% engineers and 0% marketing. It should be more like 80/20

— ?????? (@safetyth1rd) January 25, 2020

When the heated debate began in the topic, it was tweeted back by Ethereum’s father, Vitalik-Buterin. Surprisingly, he agrees with his strategic critics.

A software project becomes twice as valuable if potential users double to learn about it – that’s how Buterin emphasizes the importance of proper marketing efforts.

A software project becomes 2x more valuable if 2x more potential users learn about it. https://t.co/3HS7obgf3k

— vitalik.eth (@VitalikButerin) January 31, 2020

Ethereum (ETH) 2.0 is a Proof-of-Stake version of the Ethereum leading network that will be launched after Q2 2020. With Ethereum (ETH) 2.0 (also ETH2), the entire Blockchain will act as a network of the fragment that is connected. Ethereum mining will thus be replaced by staking.

The ETH price may rally to $ 440 before resistance begins

Edward Moya, the senior market analyst at online forex broker Oanda Corp, warned that the most significant increase of Altcoin by 2020 is currently unstable. ETH/USD has more than doubled since January 1, rising from $ 130 to a time of over $ 270 – the highest level in the past seven months.

The Ether’s General Strength Indicator (GSI) shows that ETH is having a score of 92 this week, well above the minimum level of 70, indicating overbought status.

ETH GSI index and one-year price chart of ETH | Source: Bloomberg

Ether is just one of the significant altcoins that have been appreciated in recent weeks. There is also Tezos (XTZ) to create a highlight for investors this month. Meanwhile, Neo, Cardano (ADA), and XRP have also been active.

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