News

Coinbase Faces Client Diversity Hazard in the Wake of Nethermind Bug Incident

single-image

A bug in the Ethereum client program, Nevermind, caused validators to become offline.

Coinbase is investigating methods to resolve concerns about client diversity in the wake of an outage that impacted eight percent of Ethereum validators.

CryptoCaster Quick Check:

A bug that knocked validators offline was discovered in Ethereum’s Nevermind client software, which is a tool used to connect validators with blockchain networks.

Despite the fact that the bug was fixed in four hours, worries regarding Ethereum’s client centralization started to arise.

Users specifically noted that Ethereum would stop finalizing if Geth, the most widely used Ethereum execution client, were to shut down. Geth is used by 84% of validators.

Advertisement

Australian Web3 development company Labrys stated in a post on X that “when a minority client fails, the penalty is losing [ether] ETH at the same rate as you gained it, but if Geth fails because it instantly stops the chain from finalizing, the penalty is much harsher.”

Stay in the know on crypto by frequently visiting Crypto News Today

As of right now, Binance, Kraken, and Coinbase Cloud nodes all exclusively use Geth as their client software. A Coinbase Cloud representative informed Blockworks that Coinbase is actively evaluating alternative execution clients in response to requests from the community.

“We think that a diverse client base contributes to the Ethereum network’s health. A Coinbase representative stated, “As leaders in the industry, we are dedicated to assisting our customers in participating in the crypto-economy safely and securely.

They point out that the only execution layer client software that has complied with its technical requirements up to this point is Geth.

The same conclusion has been drawn by numerous other network operators, which contributes to the 84% of Ethereum validators using Geth. But things are starting to change, as Coinbase Cloud stated in a post on X.

The statement went on to say, “We are conducting an updated technical assessment with the goal of adding another execution client to our infrastructure, as alternative execution clients have come a long way.”

In late February, Coinbase is anticipated to provide an update on alternative execution client solutions.CRYPTOCASTER® - DECENTRALIZED FREEDOM!


We hope you appreciated this article. Before you move on, I was hoping you would consider taking the step of supporting CryptoCaster’s journalism. 

From  Elon Musk, Larry Fink(BlackRock) to Jamie Dimon(JP Morgan Chase) a number of billionaire owners have a powerful hold on so much of the hidden agendas’ which eludes the public concerning the paradigm shift juxtaposed by cryptocurrency and web3 emerging technologies. CryptoCaster is different. We have no billionaire owner or shareholders to consider. Our journalistic efforts are produced to serve the public interest in crypto development and institutional disruptions – not profit motives.

And we avoid the trap that befalls much U.S. and global media – the tendency, born of a desire to please all sides, to engage in false equivalence in the name of neutrality and retail consumer protection. While fairness and transparency dictates everything we do, we know there is a right and a wrong position in the fight against fiat global banking interest and monetary reconstruction precipitated by the emerging crypto ecology.

When we report on issues like the FTX, Binance and Ripple crisis, we’re not afraid to name who or what is uncovered. And as a crypto sentinel, we’re able to provide a fresh, outsider perspective on the global monetary disruption – one so often missing from the insular American and European media bubble. 

Around the world, readers can access the CryptoCaster’s paywall-free journalism because of our unique reader-supported model. That’s because of people like you. Our readers keep us independent, beholden to no outside influence and accessible to everyone – whether they can afford to pay for news and information, or not.

We thankyou for the on-going support our readers have bestowed monetarily. If you have not considered supporting CryptoCaster, if you can, please consider supporting us just once from $1 or more of Bitcoin (satoshi) or Eth, and better yet, support us every month with a little more. Scroll further down this page to obtain CryptoCaster’s wallet addresses.

Thank you.

Kristin Steinbeck
Editor, CryptoCaster


Please Read Essential Disclaimer Information Here.
© 2022-2023 Crypto Caster provides information. CryptoCaster.world does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.


Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
MATIC – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
LITECOIN – ltc1qxsgp5fykl0007hnwgl93zr9vngwd2jxwlddvqt


CRYPTOCASTER HEATMAP


You may also like