Rotki

Sign up for our free newsletter here! Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. This week a major potential risk to Ethereum was highlighted by a bug that surfaced in Nethermind, a minority execution client. While the bug was fixed quickly, it raised the question of what would happen to the blockchain if Geth, which is used by more than two-thirds of validators and so is considered a “supermajority client,” had a bug. The situation could potentially result in a catastrophic fork of Ethereum.  Ethereum developer Lefteris Karapetsas joined Unchained to discuss the different scenarios of what could happen, the potential impact of a supermajority client issue on staking services such as Lido, why he feels the incentive system is poorly designed, and what other solutions are out there to address the lack of client diversity.  Show highlights: What a consensus issue is in Ethereum and what happened with Nethermind last weekend Why it would be a big problem if a supermajority client had a bug The potential impact on staking services such as Lido Why Lefteris feels like he is reliving the historic Ethereum DAO hack all over again Whether the largest entities running nodes will start pursuing client diversity How the data on the prevalence of specific Ethereum execution clients is not verifiable or programmatic, making it less transparent and difficult to analyze Why Lefteris believes that the incentive system is not designed to achieve client diversity Whether there are developments in the works to try to solve the lack of client diversity  Thank you to our sponsors! Popcorn Network iTrustCapital Guest  Lefteris Karapetsas, Founder of Rotkiapp Previous appearance on Unchained: Is Code Law? Should the Hacker Be Punished? The DAO Creators Disagree Links Unchained:  Most Ethereum Staking Pools Are Using Just One Execution Client, Potentially Increasing Risks to the Network The Chopping Block: Data Availability & Why It’s Important CoinDesk: Bug That Took Down 8% of Ethereum's Validators Sparks Worries About Even Bigger Outage The Defiant: Ethereum Software Client Centralization Sparks Concern Crypto.news: Nethermind rolls out urgent fix for block processing bug in Ethereum client Lukasz Rosmej’s tweet that minority client Nethermind had a consensus issue Lefteris’ tweet on a supermajority Ethereum client bug  Coinbase CEO Brian Armstrong's tweet on what he’d do in a censorship resistance request scenario Run the majority client at your own peril! by Dankrad Feist Learn more about your ad choices. Visit megaphone.fm/adchoices

Lefteris Karapetsas

Ethereum Developer

RotkiSlock.it

During my research for The Cryptopians, I found information that I believe identifies the perpetrator behind The DAO hack on Ethereum. Three founding members of The DAO and Slock.it (Christoph Jentzsch, Lefteris Karapetsas, Griff Green) discuss how and why they created The DAO, how they helped save the funds being siphoned off by black hat hackers, their personal feelings about The DAO, along with their reaction to the news about who I believe was The DAO attacker. Show topics:   Part 1: Background on The DAO Christoph, Lefteris, and Griff’s background and how they came to Slock.it what Slock.it was and why the Slock.it team decided to create The DAO what The DAO has to do with venture capital funding why the Slock.it team did not cap The DAO sale what made The DAO such a popular investment vehicle why The DAO developers were scared at the amount of money they raised   Part 2:  what Christoph, Lefteris, and Griff’s initial reaction to The DAO was saving funds from The DAO via a hard fork versus white hat hacking whether they thought Ethereum Classic would survive a hard fork how the Ethereum community has treated Christoph, Griff, and Lefteris in the wake of The DAO attack   Part 3: why they disagree on whether code is law their reaction to my naming Toby Hoenisch as The DAO attacker which actor would play them in a movie about The DAO attack Come to My In-Person Book Signings and Events! New York:  Wednesday, March 2, at 7pm At The Strand Bookstore Moderated by CoinDesk’s Christine Lee https://www.strandbooks.com/events/event403?title=laura_shin_the_cryptopians_idealism_greed_lies_and_the_making_of_the_first_big_cryptocurrency_craze   Bay Area:  Tuesday March 8, 6pm San Francisco’s Commonwealth Club  Moderated by The Information’s Kate Clark https://www.commonwealthclub.org/events/2022-03-08/laura-shin-inside-first-cryptocurrency-craze   Seattle:  Wednesday March 9, at 7:30pm The Forum Moderated by Steve Scher, of Town Hall Seattle.  https://townhallseattle.org/event/laura-shin/ Thank you to our sponsors! Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021            Beefy Finance: https://beefy.finance     Cross River Bank: https://crossriver.com/crypto    Episode Links   Guests Christoph Jentzsch ​​https://twitter.com/ChrJentzsch Griff Green https://twitter.com/thegrifft  Lefteris Karapetsas https://mobile.twitter.com/LefterisJP    DAO Hacker Reveal:  Forbes: https://www.forbes.com/sites/laurashin/2022/02/22/exclusive-austrian-programmer-and-ex-crypto-ceo-likely-stole-11-billion-of-ether/ Unchained: https://unchainedpodcast.com/exclusive-cryptos-biggest-whodunnit-who-was-behind-the-2016-dao-attack-on-ethereum/  Medium: https://medium.com/@laurashin/who-hacked-the-dao-on-ethereum-heres-how-we-jumped-past-one-critical-step-60aec489a127 Bulletin: https://laurashin.bulletin.com/who-was-behind-the-2016-dao-attack-on-ethereum-the-backstory-to-my-investigation Forbes on YouTube: ​https://www.youtube.com/watch?v=PuICbAucfn0  Daily Tech News Show: https://www.twitch.tv/videos/1306972988    The Cryptopians http://bit.ly/cryptopians  On Amazon: https://www.amazon.com/Cryptopians-Idealism-Greed-Making-Cryptocurrency/dp/1541763017/ref=tmm_hrd_swatch_0?_encoding=UTF8&qid=1645037311&sr=8-2 On Barnes. &. Noble: https://www.barnesandnoble.com/w/the-cryptopians-laura-shin/1138980345?ean=9781541763012  On Bookshop.org:  https://bookshop.org/books/the-cryptopians-idealism-greed-lies-and-the-making-of-the-first-big-cryptocurrency-craze/9781541763012 Unchained: https://unchainedpodcast.com/how-writing-the-cryptopians-shaped-my-views-on-ethereum/    The DAO Hack https://www.coindesk.com/learn/2016/06/25/understanding-the-dao-attack/ https://www.gemini.com/cryptopedia/the-dao-hack-makerdao https://unchainedpodcast.com/how-matthew-leising-confronted-his-suspects-in-the-dao-attacks/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Christoph Jentzsch

Co-founder

Slock.it

Lefteris Karapetsas

Ethereum Developer

Slock.itRotki

Griff Green

Co-Founder

Slock.itGiveth