A security expert reveals that although the Ethereum Merge is hailed as a significant upgrade to the blockchain network, the switch to proof-of-stake potentially renders it more vulnerable to attacks.
The security expert noted that a proof-of-stake (PoS) system, in contrast to proof-of-work (PoW) system, allows node validators to plot attacks by letting them know in advance what blocks they will verify.
The anonymous expert who revealed these details, is a blockchain developer and security researcher working on a proof-of-stake layer-2 blockchain .
The expert further explained that if validators are able to line up two consecutive blocks to validate, then an exploit may conceivably take place on the post-Merge Ethereum network.
Also Read: All about the Ethereum Merge
Although it is also possible for miners to validate successive blocks in PoW networks, the expert claimed that doing so is “pure luck” and does not provide the miner with enough time to prepare for an attack.
The expert stated, “If you control two consecutive blocks, you can start an exploit on block N and finish it on block N+1 without having any arbitrage bot coming in and fixing the price that you have manipulated in between.”
The security researcher contends that as a result, when the Merge goes into force, Ethereum will lose some security strength.
“As we stand right now [with] the Ethereum proof-of-work versus Ethereum proof-of-stake, Ethereum proof-of-work does have stronger security […] and economic guarantees” the developer noted.
Also Read: The Ethereum Merge – Will Investors Sell the News or Buy into ETH?
Ethereum is working on resolving the consecutive block issue, the security expert continued.
Although it is a challenging problem to resolve, if it is, proof-of-stake security will enhance since they will be protected from those attack routes.
Upon Merge, Ethereum will see a 99.5% drop in energy usage, equivalent to 11,000 wind turbines or 15.7 large nuclear reactors.
