Vitalik publishes on the future development of the Ethereum protocol (Part 3: The Scourge). Vitalik believes that one of the biggest risks facing Ethereum L1 is the centralization of proof-of-stake due to economic pressure. If there is an economy of scale in participating in the core proof-of-stake mechanism, this will naturally lead to the dominance of large stakeholders and the withdrawal of small stakeholders from joining large pools. This increases the risk of 51% attacks, transaction censor...