After The Merge upgrade was completed, Ethereum ( ETH ) was changed to Proof-of-stake (PoS) to help blockchain use energy efficiently and securely. However, the data reveals a heavy reliance on Ethereum’s single-server Flashbots for building blocks. This raises concerns about a single point of failure for the ecosystem.
Flashbots are centralized entities dedicated to transparent and efficient Maximal Extractable Value (MEV). which acts as a relay for sending Ethereum blocks byinformationAccording to mevboost.org, there are six active relays sending at least one block in Ethereum: Flashbots, BloXroute Max Profit, BloXroute Ethical, BloXroute Regulated, Blocknative, and Eden.
As shown above, out of all lots, 82.77% of all relay blocks were generated by Flashbots alone. which has greatly contributed to the centralization of Ethereum.
Tside BitMEX has emphasized the need to develop entirely new Flashbots or similar systems. However, proponents of Flashbots argue that the system is a decentralized autonomous organization (DAO) and will eventually become decentralized itself.
Previously, an analysis from Santiment indicated that 46.15% of Ethereum’s PoS nodes were controlled by just two wallet addresses.
According to our #Ethereum Post Merge Inflation dashboard, 46.15% of the #proofofstake nodes for storing data, processing transactions, and adding new #blockchain blocks can be attributed to just two addresses. This heavy dominance by these addresses is something to watch. pic.twitter.com/KQdFNgGloD
— Santiment (@santimentfeed) September 15, 2022
“Since the Merge is complete, most of the blogs — around 40% or more — have been created by two wallet addresses owned by Lido and Coinbase, so it doesn’t make sense that more than 40% of the blogs are judged by the Merge. two service providers In particular, centralized service providers (Coinbase),” explains Ryan Rasmussen, crypto research analyst at Bitwise.
The post Flashbots Build 82% Relay Blocks Making Ethereum More Centralized Appeared first on Bitcoin Addict.