Ethereum News Daily TheBitTimes.com

The proposal received mixed reactions from the crypto community, with some users stressing that it would make the network more centralized. Ethereum core developers plan to implement a 64-fold increase in the minimum amount of staked Ether (ETH) required to become a validator , from 32 ETH to 2048 ETH. The proposal was made during a June 15 Ethereum core developer consensus meeting by Ethereum Foundation researcher Michael Neuder. The researcher noted that although the current limit of 32 ETH allows more validator s to join the Ethereum network, making it more decentralized, it also leads to an inflation of the validator set size. Neuder added that such a large increase would ultimately help the Ethereum network become more efficient over time. Besides the proposal to increase the minimum required staked ETH for validators, Neuder also called for auto-compounding validator rewards. Ethereum consensus layer meeting. Source: YouTube The auto-compounding of rewards would allow validator...

The co-founder of Polygon and other decentralization proponents said the move sets a bad precedent. Tether, the issuer behind the leading stablecoin USDT has blacklisted an address that drained Maximal Extractable Value (MEV) bots for $25 million last week.  The address in question exploited a bug in MEV-boost-relay to outsmart the MEV bots trying to execute a sandwich trade. Sandwiching occurs when one order is placed immediately before the trade and another immediately after it. In essence, the trader will front-run and back-run at the same time, sandwiching the original pending transaction in between. In this case, the rouge validator address swooped in to back-run the MEV’s transaction, leading to losses of nearly $25 million in various digital assets, making it the largest MEV exploit to date. Etherscan has already flagged the address with a warning of its involvement in the exploit. Rouge validator address. Source: Etherscan The USDT address held about $3 million in USDT at ...