Ethereum

Cryptocurrency

Uranium Finance

<div class="cryptonews">
 <p class="is-style-lead">Cryptocurrency exchange Coinbase has announced plans to diversify its Ethereum execution <a rel="noopener noreferrer nofollow" title="client" href="https://thebittimes.com/tag/client.html">client</a> infrastructure.</p>
 <p>Coinbase’s decision comes in response to the increasing dominance of Geth (go-ethereum) in the ecosystem, which has been a point of contention among industry experts and stakeholders. The company announced the initiative in a Jan. 23 X post. According to the thread published by Coinbase Cloud, since its inception, Geth was the only Ethereum (ETH) execution <a rel="noopener noreferrer nofollow" title="client" href="https://thebittimes.com/tag/client.html">client</a> that fulfilled the company’s technical needs for Ethereum staking.</p>
 <blockquote class="wp-block-quote">
  <p>Although we’ve evaluated execution <a rel="noopener noreferrer nofollow" title="client" href="https://thebittimes.com/tag/client.html">client</a>s since 2020, none have met Coinbase Cloud’s requirements to date. Many other operators on the network have reached the same conclusion, which is part of the reason why 84% of Ethereum validators run Geth. However, the tide is turning.</p> <cite>Coinbase Cloud | Source: X</cite>
 </blockquote>
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 <p>Geth plays a crucial role in the Ethereum network, handling transactions and the deployment and execution of smart contracts. The dominance of Geth has raised concerns about centralization and the risks associated with a single <a rel="noopener noreferrer nofollow" title="client" href="https://thebittimes.com/tag/client.html">client</a>.</p>
 <p>Coinbase is now proactively conducting a technical assessment of alternative Ethereum execution clients and is committed to integrating another client into its infrastructure. The exchange plans to provide a comprehensive update on this process by the end of February 2024.</p>
 <p>The situation underscores a broader issue within the Ethereum network, as highlighted by Ethereum.org. The website notes that approximately 85% of all nodes operate using Geth, raising the specter of systemic risks should a major bug occur, affecting transaction processing or allowing for the execution of payloads.</p>
 <p>This concern gained further traction following a critical bug discovered in several versions of Nethermind’s execution <a rel="noopener noreferrer nofollow" title="client" href="https://thebittimes.com/tag/client.html">client</a> on Jan. 22, which reportedly led to processing failures of blocks on Ethereum.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/coinbase-to-address-ethereum-client-diversity-woes-tbt77490.html">https://thebittimes.com/coinbase-to-address-ethereum-client-diversity-woes-tbt77490.html</a></p>

Coinbase to address Ethereum client diversity woes

TheBitTimes

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