Ethereum Foundation researcher raises privacy issues about the Shanghai upgrade
As a result of the Ethereum blockchain’s Shanghai upgrade, Justin Drake has sounded an alarm about some network inconsistencies. He is a researcher at the Ethereum Foundation.
ETH stakers’ IP addresses are being displayed following the network upgrade, raising privacy concerns. The Shanghai upgrade will allow people to withdraw staked Ether, bringing more liquidity to the network.
A nine-month high price point of $2,107 has been reached by ETH after months of thorough testing by Ethereum developers.
Drake said in the Bankless crypto podcast, “There’s a lot of metadata, you can look at deposit addresses, you can look at withdrawal addresses, you can look at fee recipients, you can look at IP addresses.”
As of now, it’s unclear when Ethereum developers will address these issues. Meanwhile, the researcher expects solo ETH holders to soon receive airdrops, which won’t be distributed to industry giants.
CoinTelegraph quoted Drake as saying further in the podcast conversation, “We know who Kraken is, we know who Coinbase is, and we can just not give them an airdrop if the purpose of the airdrop is to airdrop to specific individuals that are running solo validators.”
On April 13, Ethereum’s blockchain underwent its second major update called Shanghai. Industry insiders had warned members of the Ethereum ecosystem against possible network glitches following the upgrade.
According to Gadgets 360, Ilya Volkov, CEO and co-founder of Web3 fintech firm YouHodler, the Shanghai Upgrade may expose users to scams.
Volkov had said at the time, “People need to be alert so as to avoid falling prey to specifically phishing attacks involving fake wallet or staking services or in the form of false promises of guaranteed high returns on staked ETH.”
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