10 months ago
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Improving the security of Ethereum
On the 23rd, Coinbase Cloud, the developer support division of Coinbase, a major U.S. cryptocurrency exchange, announced that it is considering improving the security of Ethereum (ETH) infrastructure.
Coinbase Cloud explains that it places the highest priority on the security of its users’ assets and the underlying blockchain. The company plans to share information on this review and subsequent efforts by the end of February.
Specifically, we are considering diversifying the execution layer clients of Ethereum. An Ethereum client refers to software that implements the Ethereum specifications and enables communication over P2P networks. Although multiple clients have been developed for Ethereum, they are interoperable.
The development of multiple clients and diversification will lead to improved network security. For example, if a problem occurs with one client, network safety can be maintained as long as other clients continue to operate.
However, Coinbase Cloud said that when it launched Ethereum staking, it evaluated execution layer clients, and the only client that met its technical requirements was Geth (go-ethereum).
What is staking?
A system or service that allows you to earn rewards by depositing virtual currency for a specified period of time. By depositing virtual currency, you can contribute to the operation of the blockchain network and receive compensation in return.
Virtual currency glossary
Coinbase Cloud explained that it will now evaluate clients other than Geth and consider adding other execution layer clients to its infrastructure. He also emphasized that everyone at Coinbase values the diversification of Ethereum’s clients.
connection:A fork occurred in the Ethereum blockchain due to client update delay.
Geth’s share
Coinbase Cloud said it is not alone in its high praise for Geth, pointing to the fact that 84% of Ethereum validators use Geth as proof of this. It is also said that Binance and Kraken only use Geth, so if a problem occurs with Geth, the impact may be greater.
Recently, concerns have been raised on social media that Coinbase only uses Geth, and on the 23rd, Coinbase CEO Brian Armstrong responded to a user’s post saying that he would “confirm” the concerns. andcommentWas.
A Coinbase Cloud representative told Blockworks that they are actively considering implementation for other clients. And he comments as follows.
We believe that client diversity contributes to Ethereum’s health.
As an industry leader, we want to help our customers safely participate in the virtual currency economy.
connection: “Ethereum will outperform Bitcoin in the medium term” QCP Capital predicts
The post US Coinbase to improve security of Ethereum infrastructure, considering diversification of clients appeared first on Our Bitcoin News.
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