The VMware researcher and systems expert, Dahlia Malkhi, recently stated that Ethereum’s upgrade, Casper is “fundamentally vulnerable”. According to Malkhi, Casper had earlier assured of a promising start in putting forth a better and greener solution for Ethereum blockchain. But her statement to define the Casper Protocol at Financial Cryptography in Curacao, makes the crypto fanatics hault and reason out the claims.
Malkhi had produced an informed document of computer science which untangled how hosts in computer networking comes to an understanding. But it was her view on Casper which shook the dignitaries and general audience present.
Proof-of-stake provides a different mining experience which is virtual and the coins are locked till the computation is performed. This is beneficial as, unlike Bitcoin which spends real electricity and energy for verification, Proof-of-stake stands beneficial in cutting down energy consumption and power costs.
This idea has received fierce opposition from Malkhi as she stated, “I think proof-of-stake is fundamentally vulnerable. You’re giving authority to a group to call the shots […] In my opinion, it’s giving power to people who have lots of money”.
However she silenced her opponents by mentioning that Casper had led innovation and technology into an interesting turn and gained interest from masses and that itself is a big achievement.
However, despite the contrary belief regarding Casper, Malkhi is enthusiastic of Cryptocurrency and any research in it’s field. She has completely agreed to Bitcoin’s solutions to the Byzantine Generals Problem and commended how it brought forth the response. She simply wants to address the fact that there’s a lot of work which needs to be done and every blockchain still possess a few flaws which needs to be perfected.
In the concluding part of the speech, Malkhi said that despite having solid foundations, the problems of Cryptocurrencies are not yet solved and she hoped that innovation will answer the problems.