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On Friday, a weekly meeting of Ethereum developers took place, who are now working closely on conversion – the process of transition of the Ethereum blockchain to a PoS algorithm. Tim Beiko assured users that the date of September 15 remained in force, i.e. migration to the new network will definitely occur before September 19.
Changing consensus carries both new censorship risks and opens up new opportunities to make the network better, in particular by blocking MEV manipulation.
MEV means the process of extracting additional value by miners who, due to the transparency of the blockchain and control over user transactions, cancel their profitable transactions, replacing them with their own or conduct arbitrage operations.
Miners could not be “punished”, but validators make a deposit of 32 ETH, from which the developers plan to charge a fine for rejecting transactions for the purpose of MEV manipulation. More detailed proposals in this regard will be submitted within two weeks.
Ethereum developers discussed censorship by regulators, in light of the inclusion of the Tornado Cash mixer in the OFAC lists of the US Treasury. If earlier CeFi and DeFi platforms blocked wallet addresses associated with this service, then by the end of the week the pools of miners began to block blocks with transactions.
The problem of the sustainability of state censorship has been entrusted to Christine Kim, but so far there are no real proposals on this issue. Moreover, before the meeting of the developers, it became known that OFAC has already taken control of American PoS validators and they agreed to censor Ethereum 2.0 transactions.
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