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Ethereum analysts warn of security issues with the upcoming merger

Mid-September is approaching: Ethereum is racing toward a long-awaited upgrade—the merge to Ethereum 2.0.

By Finst News
• 2 min read
Ethereum analysts warn of security issues with the upcoming merger

Mid-September is approaching: Ethereum is racing toward a long-awaited upgrade, the merge to Ethereum 2.0.

Some analysts warn Bloomberg of security issues for the network after the historic update. Especially for the 3,200 dApps that exist on Ethereum.

"There will be edge cases that could be exploited," said Toby Lewis, CEO of Novum Insights, a crypto analytics provider. "One thing I can guarantee: it’s going to be a bumpy ride."

A director at Trail of Bits also warns that poorly built apps on Ethereum could be attacked. It is the most respected blockchain security firm in the world.

Some companies are already bracing for the difficulties, according to Bloomberg. For example Coinbase will temporarily halt all deposits and withdrawals of Ethereum-based tokens during the merger.

During the merger, the network will switch to Ethereum's consensus algorithm. This should make the blockchain 99 percent more energy-efficient. Mining will be history. Instead, the network will be secured by the Proof-of-Stake algorithm. Read all about it here.

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