Ethereum update: Possible big flaw in current Ethereum design
Hello everyone. I hope that people in this subreddit are interested and care about the future of Ethereum enough so that this post doesn’t fall on deaf ears. Because I think that there is an important matter that should be tackled.
I’m going to talk to you about [Fomo3D](http://exitscam.me), many people see it as a scam and I am not here to promote it. The principle of the “game” (the *long* version) is that people can throw money at it (at the smart [contract](https://etherscan.io/address/0xA62142888ABa8370742bE823c1782D17A0389Da1)) in order to get a share of all the ETH that are subsequently thrown at it, **and** another important game mechanism is that there is a timer, and everytime someone buys a “key” (some minimal amount of ETH), 30 seconds are added to the timer with a maximum of 24 hours. When (if ever) the timer goes to zero, the last address who bought a key receives the whole pot (currently at more than 20,000 ETH).
Okay so why did I tell you all this, you ask? I will quote the user *@thyty#1925* who said on the discord channel of the game:
> For those of you not aware of what’s happening, you’re watching the death of proof of work.
> Byzantine fault tolerance is a concept that assumes a portion of all miners on the network will do their best to attack the network for profit. In general this is hoped to be quite low, in practice we put a bounty on exploiting it so the only transactions getting through are through non colluding miners.
>
> High gwei gas prices will still get you through (its designed to be just out of reach for this attack), they’re throwing away a massive amount of ethereum to try this kind of exploit. But if they are successful, it’ll spell an absolute death sentence for trust in the network.
Basically, this game is encouraging mining pools to collude in order to win the pot.
I also quote one of the dev team who predicts what could happen near the end of the timer:
> Block times might increase to 90+ seconds,
> Blocks might be declined, Skipped, submitted empty, or otherwise played with.
> Transactions might be declined,
> The entire network’s gas prices could skyrocket, (We can blame EOS if you want)
> Whales could offer to buy the entire last 20-100 network blocks and all the gas in them outright.
> The website might be DDOSSED,
> Infura Nodes might be DDOSSED,
> Etherscan might crash (Again),
> Bots will try to Snipe the key.
> Players will troll everyone and ruin entire attack attempts (and the eth necessary for them) by simply buying lots of keys.
My main questions to technical people are: What do you think about this? Will POS solve this?
About Ethereum
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.
Author: kdokdo
Score: 0
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