Ethereum 2.0 is a Conspiracy to Destroy Decentralization
Two more weeks
Conspiracy time.
Ethereum 2.0 is set to release when Ethereum “merges” to Proof of Stake and eliminates Proof of Work mining in September 2022. But, is the merge actually bullish for ETH?
I don’t think so. The merge is a way to try and fix the problems with ETH but it creates new ones in doing so.
It’s kind of like making a deal with the devil.
Sure, Ethereum will reap the environmental, security, and scaling benefits from PoS, but do those benefits actually outweigh the dangers of increased centralization?
Here’s what I think.
Canary in the Coal Mine: Tornado Cash
Can Ethereum be censored?
Yes, apparently it can.
This came to light earlier this month when the US government sanctioned a project on Ethereum called “Tornado Cash.” Tornado Cash is a “mixer,” meaning it receives users’ cryptocurrency deposits and returns them “fresh” coins that aren’t tied to the original deposit addresses.
In short, mixers can eliminate a drug trail or any illegal activity on your crypto.
