US Sanctions On Tornado Cash – Attack On ETH, Reddit User Claims

US sanctions on Tornado Cash, i.e. the latest penalties by the US government are an attack on ETH according to a post by Reddit user @AllwaysBuyCheap. The crypto enthusiast claims that this penalty ushers in a new age for ETH. Additionally, this is the first occasion where a smart contract has received direct government approval.

US Sanctions On Tornado Cash – Attack On ETH

The article claims that the US government has demonstrated by its actions that it is aware of the vulnerabilities in the cryptocurrency industry. The crypto enthusiast, however, thinks that this can act as a warning to the community and get them ready for potential attacks.

These forthcoming attacks, according to @AllwaysBuyCheap, will take place if the ETH network starts to replace a sizable chunk of the financial system. Therefore, non-decentralized platforms and protocols are two systems that are vulnerable.

They are typically not particularly significant, but they are required for the network to operate effectively. He continued by highlighting the numerous systems and protocols that are vulnerable as well as potential fixes.

Remote Procedure Calls are first on the list (RPCs). RPC enables communication and interaction with a certain blockchain by giving users access to a server node on that network.

A truly decentralized system, according to the developer, is ineffective if a centralized channel is being used for connectivity. As a result, wallets must start utilizing decentralized RPCs.

Unfortunately, a whole node requires a lot of hardware to run. As a result, it is not easy. Thankfully, the developer mentioned that the lite client would be accessible soon. A developer may use this to quickly query and authenticate the network.

The US sanctions on Tornado Cash have also made headlines this week.

TETHER/USDT Is Not A Reliable Stablecoin

DNS is another protocol that the user highlighted (Domain Name System). The developer claims that Dapps must have an IPFS frontend that is reachable via an.eth domain. Unfortunately, given that DNS translation is currently handled by centralized RPCs, this is insufficient.

Once light clients are made available, browsers must use them as their preferred DNS resolver in order to fix the issue. The next port of call was GitHub, which @AllwaysBuyCheap described as a crucial vulnerability that would jeopardize the security of ETH. According to the creator, a worldwide, decentralized, searchable site where all of Dapp’s code is always accessible must have an intuitive user interface (UI).

However, two initiatives, Gitopia, and Radicle are now striving to discover a solution to this problem. The post also said that USDC/TETHER is harmful to the cryptocurrency community.

If you want the full rundown of the original poster’s thoughts on the matter, feel free to head over to Reddit.