- With 50% OFAC compliance among Ethereum
validators, blocks will still be produced within 30 seconds
- ETH Price at the time of writing – $1,325.71
- Vitalik Buterin proposed a Partial Block Auction solution
One Ethereum proponent argued that “not even a single” transaction has been censored on the network, rebutting claims that the network has become more susceptible to censorship since the merger.
Cyber Capital founder and chief investment officer Justin Bons argued that, contrary to what some Bitcoiners are falsely claiming, no Ethereum transaction has been stopped as a result of Office of Foreign Assets Control (OFAC) sanctions in a 19-part thread sent to his 29,100 followers on Oct. 17.
51% of Ethereum blocks are now complying with the U.S. sanctions
Bons was referring to recent reports that Ethereum has grown too dependent on Miner Extractable Value (MEV)-Boost relays that comply with OFAC since the Merge.
After switching to proof-of-stake (PoS), it was reported last week that more than 51% of Ethereum blocks are now in compliance with U.S. sanctions.
The crypto-fund manager argued that, despite the growing number of OFAC-compliant MEV-Boost relays, censorship only occurs when producers refuse to build on blocks that are not compliant, even though doing so would cause the chain to fork and split that a non-compliant ETH TX will be confirmed within 30 seconds even with 50% OFAC compliance!In contrast to BTC’s more volatile 10 minutes!
In addition, Bons argued that a single contributing validator is all that is required to include a potential OFAC-sanctioned transaction in the canonical chain.
This indicates that such censorship can only be overcome by a small number of validators and miners for Bitcoin and Ethereum! Easily less than one percent can stop censorship, he said.
Flashbots looking to roll out its decentralized and EVM-compatible block builder
Ethereum developer Terence Tsao of Prysmatic Labs announced on Oct. 17 that he and fellow developer Marius van der Wijden had begun building a solution to address the issue.
Additionally, developers have been working to improve Ethereum’s resistance to censorship.
Vitalik Buterin, co-founder of Ethereum, recently proposed a Partial Block Auction solution, in which a block builder only has the authority to select a portion of the block’s contents.
In order to combat censorship, Ethereum research and development organization Flashbots plans to soon release its fully decentralized and EVM-compatible block builder, Single Unifying Auctions for Value Expression (SUAVE).
More than 40 cryptocurrency addresses allegedly associated with the controversial mixer Tornado Cash were added to the Specially Designated Nationals list of OFAC on August 8, effectively prohibiting U.S. residents from using the mixing service.
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