Will Censorship be the end of the Ethereum Network?

[Blawpaw]

With the recent issue with Tornado cash and some other users complaining about transactions being censored over the ethereum network we are seeing a wide range of problems coming in. Apart from this behaviour being everything that Satoshi did not advocate for, it goes against all the principles that cryptocurrency stands for. Well, for me Eth died back in 2016 with the DAO event and with the recent events and the POS fork and see it as dead.

Of course that even so, Ethereum is still the leading network but slowly developers are turning to alternative networks, so the future of ethereum may be compromised.

What are your thoughts on these recent events? And what project do you guys believe could surpass Ethereum?

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[OgNasty]

I think that Ethereum going to proof of stake pretty much sealed its fate as far as censorship goes. Most of the blocks being confirmed these days are complaint to whatever standard of processing transactions that the government has set forth. I imagine in time all of the blocks will be, otherwise funds will start being frozen. Ethereum is definitely the biggest target of blockchain regulators at the moment, and I’m sure such censorship will attempt to find its way to Bitcoin in the future. Although I’m sure they’ll try to steer Bitcoin towards PoS first to make their job easier.

[Xal0lex]

What are your thoughts on these recent events? And what project do you guys believe could surpass Ethereum?

None. All the big PoS projects that provide a platform for smart contracts are centralized and subject to censorship. Do you think other networks offer something decentralized and free of regulators? Not likely. Ethereum was apparently the last platform to run on RoW. Blockchain is slowly buckling under centralization and regulation. Tokens and coins are trying to fit under securities law so that they can be regulated and fully controlled.

[Blawpaw]

What are your thoughts on these recent events? And what project do you guys believe could surpass Ethereum?

None. All the big PoS projects that provide a platform for smart contracts are centralized and subject to censorship. Do you think other networks offer something decentralized and free of regulators? Not likely. Ethereum was apparently the last platform to run on RoW. Blockchain is slowly buckling under centralization and regulation. Tokens and coins are trying to fit under securities law so that they can be regulated and fully controlled.

Well, you look like you must have an even darker vision than I do for the future of cryptocurrencies. So, does it mean that you believe we are just watching the beginning of the end for Decentralization and everything that Satoshi's main vision stood for? Do you think we are heading to complete control with no alternatives?

[BIT-BENDER]

Even before the censorship issues, many people only use the Ethereum network when it is absolutely necessary I think Ethereum are missing the main issues of target, I think this recent energy they are putting into other developments should be directed towards the transactions issues on their network, with so many options available now it's becoming a tougher competition for Ethereum.

No that Ethereum is the one Altcoin I would first hold if I had larger capital, it already has the history, solid team backing and popularity let's see if it would still have longevity.

[Coyster]

So, does it mean that you believe we are just watching the beginning of the end for Decentralization and everything that Satoshi's main vision stood for? Do you think we are heading to complete control with no alternatives?

Well Satoshi's vision was for Bitcoin and not Altcoins, i'm afraid, that was what he stood for: Bitcoin being decentralized and the algorithm to bring coins into circulation being the proof of work mechanism, and it is still that way. Ethereum and quite a lot of other altcoin projects are rightly centralized and there is prolly no alternatives in the altcoin industry. But the Bitcoin network is still decentralized thus far, not that it isn't targeted by governments and regulatory bodies, but there is as yet no change in how Bitcoin operates/has operated, thus i'd not talk about the end of decentralization just yet because we haven't gotten to such end.

[Xal0lex]

What are your thoughts on these recent events? And what project do you guys believe could surpass Ethereum?

None. All the big PoS projects that provide a platform for smart contracts are centralized and subject to censorship. Do you think other networks offer something decentralized and free of regulators? Not likely. Ethereum was apparently the last platform to run on RoW. Blockchain is slowly buckling under centralization and regulation. Tokens and coins are trying to fit under securities law so that they can be regulated and fully controlled.

Well, you look like you must have an even darker vision than I do for the future of cryptocurrencies. So, does it mean that you believe we are just watching the beginning of the end for Decentralization and everything that Satoshi's main vision stood for? Do you think we are heading to complete control with no alternatives?

I wouldn't call it dark, I would call it as logical and realistic as possible. Look around you, almost the entire industry has been influenced by kyc and regulators. Most countries around the world have created their legislative frameworks and taxation for cryptocurrencies. And all of this is part of centralization and control. Any centralized exchange that supports kyc and aml policies can block and confiscate cryptocurrencies. Also, cryptocurrencies have political censorship and sanctions that prevent certain citizens from using cryptocurrencies and using services. That's a full-fledged control and regulation.  How do I see the future of cryptocurrencies? Fully regulated. Alas, there is no trace of the original intent of cryptocurrencies themselves. Cryptocurrencies were supposed to fight the oppression of central banks and governments, but that's not how it turned out. These same bankers and governments control cryptocurrencies and dictate their terms. People do not use cryptocurrencies as an alternative to fiat, they seek to exchange cryptocurrencies for fiat, through various speculations.

Governments will continue to increase control and regulation. The reason for this is that once worthless coins, once worth very little and taken seriously by few, have become worth very much and a huge value has been transferred through the blockchain. Billions of dollars. Now it is a full-fledged industry, and governments, along with banks, will not miss the opportunity to make it all work for them.

[JeromeTash]

Although I’m sure they’ll try to steer Bitcoin towards PoS first to make their job easier.

They are already trying this with the stupid Bitcoin mining energy consumption agenda. Ethereum fell for the trap and what worsened was their very high transaction fees... lol


POS or not, Ethereum is still a very large network compared to other altcoins. From the beginning, their selling points were transaction fees and smart contracts. I don't think any other shitcoin like BNB will overtake them in terms of adoption, but they certainly will drop further down way from Bitcoin from many points.

[Yogee]

Developers moving to another network? Like networks that also suspends or halts transactions whenever attacks or exploits happen to one of their platforms? Those same centralized networks? That is not the end of Ethereum. Most users are already aware of such censorship but they still support it regardless.

[BitDane]

With the recent issue with Tornado cash and some other users complaining about transactions being censored over the ethereum network we are seeing a wide range of problems coming in. Apart from this behaviour being everything that Satoshi did not advocate for, it goes against all the principles that cryptocurrency stands for. Well, for me Eth died back in 2016 with the DAO event and with the recent events and the POS fork and see it as dead.

You just lost confidence on ETH that is why you look at it as dead project, in reality ETH is thriving.  People who are into ETH will keep using it no matter what is the condition of the censorship of its network.

Of course that even so, Ethereum is still the leading network but slowly developers are turning to alternative networks, so the future of ethereum may be compromised.

What are your thoughts on these recent events? And what project do you guys believe could surpass Ethereum?

I don't mind what happen to ETH, I long abandoned it when it gas fee become insane.  About a project that can surpass ETH, there are many potential candidates but it is hard to say if those candidate will really surpass ETH.

[samcrypto]

Developers moving to another network? Like networks that also suspends or halts transactions whenever attacks or exploits happen to one of their platforms? Those same centralized networks? That is not the end of Ethereum. Most users are already aware of such censorship but they still support it regardless.

That’s correct, I don’t think censorship will be the reason of a set-back for ETH, it won’t die easily.
ETH push this update because it can help their network more competitive in the future, and I believe they did it right. It’s the trend now where a project ship into a new network to address their current issues, it seems very effective to other project as well.

[Bitstar_coin]

Some devs will pull out but I highly doubt it will be the end of eth network. Eth is PoS now and such is expected. If other networks did not die doing the same thing I don't see how eth will be affected because of that with the size of its user base. They just have to get use to this new changes.

[Ucy]

With the recent issue with Tornado cash and some other users complaining about transactions being censored over the ethereum network we are seeing a wide range of problems coming in. Apart from this behaviour being everything that Satoshi did not advocate for, it goes against all the principles that cryptocurrency stands for. Well, for me Eth died back in 2016 with the DAO event and with the recent events and the POS fork and see it as dead.

Of course that even so, Ethereum is still the leading network but slowly developers are turning to alternative networks, so the future of ethereum may be compromised.

What are your thoughts on these recent events? And what project do you guys believe could surpass Ethereum?

Well, once it's no longer censorship resistant, it's no longer decentralized because much of the cryptocurrency ideals like censorship-resistant, immutability, true public consensus, etc work handinhand. If one is compromised or weakened the network becomes centralized and less secure.
PoS is anti- decentralization and should never be encouraged by any right thinking person. It helped in turning the network into zombies and could actually be considered dead/dying. So, it's best to use it with what you can afford to risk, or avoid completely.

[vv181]

I'm not aware of the recent Ethereum users that got censored or did you mean it's AFAC block compliant? AFAIK, the ones who got censored are the ones who interact with the Tornado Cash mix address right?

Regardless of it, some already say that majority of Ethereum users are already in favour of the current implementation, so I bet they could care less regarding censorship. They have been getting used to using "middlemen" after all. When the RPC API won't follow the regulation standard, the possibility of the block itself getting filtered/cleansed out with what the regulation affirms could be a likely possible scenario as of now.

[zasad@]

If the regulator gives an order to centralized organizations and projects to block certain addresses, then this order will be executed. This must be understood, and no laws will help you, and lawyers will be very expensive, and they will not guarantee the release of funds. Now it is better to transfer some of the coins to other decentralized blockchains. Anonymous coins like Monero I think will also be blocked in the future on centralized exchanges.

[Lizzylove1]

proof of stakes are not totally decentralized, POW remains the best. Ethereum should have stayed in POW and allow L2 disgest the network and other EVM. POS validators can decide to halt the entire network and take a suppose decentralized protocol offline, this recently happened to BSC network when a hacker stole some fund from of the protocols. Juno is a project I lost $1400 to, it's a POS, there was a whale account they fear could destroy the JUNO liquidity, they said he gamed the JUNO airdrop, community voted to seize his asset. Lols an asset that was already in his private wallet but staked with validators. Lols,. Good as it sounds, POS will cause many problem.

[Silberman]

If the regulator gives an order to centralized organizations and projects to block certain addresses, then this order will be executed. This must be understood, and no laws will help you, and lawyers will be very expensive, and they will not guarantee the release of funds. Now it is better to transfer some of the coins to other decentralized blockchains. Anonymous coins like Monero I think will also be blocked in the future on centralized exchanges.

And this is the problem with centralization, by concentrating the power in a just a small number of hands this makes the work of the governments way easier and they can begin to influence the markets in the direction that benefits them the most, and since most people do not really care about the ideals which started this market then it is clear this is the direction most of the coins in the market will follow, the only question that remains is if governments will be able to do this to bitcoin and privacy coins? Which seems to be the only projects left which are willing to stand up to the governments and their manipulation.

[tabas]

I don't think that there will ever be a project that will surpass Ethereum as of the moment. The fact that it's grown a lot and with this transition, it's making the rich folks be richer and that's what they like from it. So, huge capitalization will remain on it as it gives these huge part of its network the advantage to take on the lead as they help Ethereum also remain on its state. Being a PoS now really has changed it into a less censored project and let's see where it'll be in the next years.

[tbct_mt2]

Well, for me Eth died back in 2016 with the DAO event and with the recent events and the POS fork and see it as dead.

Fact is the network of Ethereum has been growing after the DAO fork in 2016 and it you said Ethereum was dead after that, it is not correct.

Dead after The Merge, I don't know because it must be verified by time and the people who use Ethereum blockchain. However in my opinion, it won't be dead because of Proof of Stake. If you look at Binance Smart Chain which I am sure is the more centralized network than Ethereum network. You can compare two networks' validators to see how Ethereum network is better than Binance Smart Chain.

Do you see Binance Smart Chain is dead? If you don't see BSC is dead, Ethereum PoS network won't be dead.

Of course that even so, Ethereum is still the leading network but slowly developers are turning to alternative networks, so the future of ethereum may be compromised.

What are your thoughts on these recent events? And what project do you guys believe could surpass Ethereum?

It is very hard for younger blockchain to surpass Ethereum and Bitcoin networks. New blockchain projects are created to promise they are building something bigger, better and more efficient than Bitcoin and Ethereum networks. In reality, their networks show more weaknesses after a few months of growing after launches.

[Polkeins]

I don't think that there will ever be a project that will surpass Ethereum as of the moment. The fact that it's grown a lot and with this transition, it's making the rich folks be richer and that's what they like from it. So, huge capitalization will remain on it as it gives these huge part of its network the advantage to take on the lead as they help Ethereum also remain on its state. Being a PoS now really has changed it into a less censored project and let's see where it'll be in the next years.

There will definitely be a competitor of the ether, history does not stand still. ETH was just very lucky at the time, at the initial stages of the market they were able to attract miners who made the network reliable and stable from 51 attacks, then it was time for ICO, most of whom were on the ETH platform and collected ETH in exchange for their tokens, simultaneously increasing the transaction price and the income of miners.
Then there was USDT, which was also on the air, then Define and NFT. All of them only added money and opportunities to the ETH, it is clear why with such data the other became the second after the BTC.
Now without mining and clear rules, the future of the project is not so rosy.