One of the biggest factors harming Ethereums credible neutrality is the use of censoring MEV relays by crypto ecosystems and exchanges. 4524 Total views 17 Total shares Listen to article 0:00 News Ho-ho-ho! Get Limited Holiday Trait!Collect this article as NFT For most crypto ecosystems, being compliant with federal sanctions have a negative impact on its global reach. However, when it comes to Ethereum, investors have significant power to decide the degree of compliance the ecosystem obeys.
Nearly 60% of all post-Merge Ethereum blocks comply with the United States sanctions put forth by the Office of Foreign Assets Control (OFAC). While the crypto community stands against this transformation, many fail to realize their own contribution to helping Ethereum attain total OFAC compliance.
One of the biggest factors harming Ethereums credible neutrality is the use of censoringMiner extractable value (MEV)relays by crypto ecosystems and exchanges. MEVrelays work as a mediator between block producers and block builders, which are being used by prominent crypto players, such as Binance, Celsius Network, Coinbase, Kraken and Cream Finance, to name a few.Top Ethereum censorship offenders leaderboard. Source:MEV Watch
Users staking Ether (ETH) on platforms (as shown above) that run censoring MEV relays on their validators are directly contributing to the censorship of Ethereum. Crypto platforms can help remediate the situation by adopting a non-censoring MEV-boost relay.
For validators and relay operators, some of the popular MEV-boost relays that dont promote censorship include Ultra Sound Money, Agnostic Boost, Aestus, BloXroute Max Profit, BloxRoute Ethical, Manifold and Relayooor.OFAC compliance data for last 100 Ethereum blocks. Source:MEV Watch
At the time of writing, 67 of the last 100 Ethereum blocks were found enforcing OFAC compliance.
As investors, it is important to understand that protocol-level censorship is deterrent to cryptos goal of unleashing open and inclusive finance. Hence, it becomes important for both investors and service providers to opt for non-censoring MEV-boost relays.
Related: BNB Chain now has more unique addresses than Ethereum, developer says
The Ethereum ecosystem recently witnessed two dormant addresses wake up after four years to transfer 22,982 ETH.
#PeckShieldAlert 2 Dormant addresses transferred 22,982 $ETH (~27.2M) to 2 fresh addresses, their last movement was October 2018 (1,535 days ago).
These $ETH originated from Genesis and Poloniex pic.twitter.com/MXKpLnypif PeckShieldAlert (@PeckShieldAlert) December 19, 2022
The ETH transfers in question can be traced back to trading platforms Genesis and Poloniex where the unknown whales transferred 13,103.99 ETH and 9,878 ETH, respectively. #Ethereum #Vitalik Buterin #Adoption #United States #Sanctions #Staking Related News What is total value locked (TVL) in crypto and why does it matter? Women who made a contribution to the crypto industry in 2022 Staking tech firm Kiln closes $17.6 million, eyes future ETH staking demand Vitalik Buterin reveals 3 huge opportunities for crypto in 2023 Santas and Grinches: The heroes and villains of 2022
