Ethereum co-founder, Vitalik Buterin dismisses any possibility of a 51% attack occurring on the network

• Any chance of a 51% attack occurring on Ethereum has been dismissed by its co-founder.

• This comes as a Yearn.finance’s yETH vault becomes more popular throughout the community.

Vitalik Buterin, the co-founder and figurehead for the Ethereum network has recently dismissed the concerns that a 51% attack on Ethereum 2.0 could be crucial to the network.

As Yearn.finance’s yETH vault becomes more and more popular throughout the industry, this is a concern that rife throughout the community. 

For those that don't know, yETH vault enables users to lock Ethereum and then automatically switches to the highest yield or interest rate strategy.

Currently, Yearn.finance’s yETH vault has already succumbed to more than 137,000 Ethereum on its first day. Eric Wall, the chief intelligence officer of Arcane Assets has suggested that this would mean that the yETH vault admin is more than likely to end up controlling enough of the token to launch an attack on Ethereum 2.0.

We need to get past the myth that it's *fatal* if one entity gets enough to 51% attack PoS. The reality is they could attack *once*, and then they either get slashed or (if censorship attack) soft-forked away and inactivity-leaked, and they lose their coins so can't attack again. https://t.co/utash1hUDU

— vitalik.eth (@VitalikButerin) September 2, 2020

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!