99% ETH OFAC compliance to slow block time to 3hrs but not censor

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99% ETH OFAC compliant to slow block times down to 3 hours but not censored 99% ETH OFAC compliant to slow block times down to 3 hours but not censored
99% ETH OFAC compliant to slow block times down to 3 hours but not censored

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Cover art/illustration via Cryptooshala

As Office of Foreign Assets (OFAC) compliance levels continue to rise on the Ethereum blockchain, a researcher from Scroll ZKP confirms the fact that censored transactions are still booming on the ETH chain, unlike Bitcoin (BTC) blockchain transactions. Will confirm with ,

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An Ethereum (ETH) block occurs on average every 13 seconds and hundreds of blocks are being validated per hour. Should ETH validators be 99% OFAC compliant, transactions would take three hours on average – but would still be included in the block.

data from inclusion. Watch allows visitors to adjust the level of censorship/compliance on the Ethereum network to find out the time it takes for blocks censored by the MEV-boost relay to join blocks.

As of press time, the average percentage of OFAC-compliant blocks produced has reached 77.82%, meaning that a non-compliant transaction would take more than seven minutes to be included in a block with absolute certainty.

eth block time
Source: incl.watch

Justin Bones, CIO of Cyber ​​Capital, argued that a bitcoin block can take more than an hour to process, while on Ethereum there is a block every 13 seconds. However, the average time to create a block on bitcoin has not broken 12 seconds in the last quarter as stated cryptoslate Akeeba in the post below.

using the newly created inclusion. watch, Which makes it possible to review the number of blocks likely to be included on the 99.08% OFAC-compliant ETH blockchain, on the infamous MEVwatch website.

As seen in the image below, should Ethereum reach 99% compliance with OFAC sanctions, it would take 3 hours and 3 minutes for a new Ethereum block to include a transaction.

eth 99%ofac
Source: inclusion.watch

Therefore, the argument that Ethereum would still be faster than Bitcoin even if 99% of the network was censored appears to be false. External blocks can be processed slower on the bitcoin network but the average time to generate a block is very short.

What is impressive, as Akiba said, is that even with 99% censorship, Ethereum continues to process censored transactions within four hours. The argument that Ethereum is censorship resistant is hard to challenge under this revelation. However, if transactions from Uniswap, Aave, or 1inch account for a fraction of 1%, the 3 hour settlement time will result in severe network issues.





Credit : cryptoslate.com

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