[Boards: 3 / a / aco / adv / an / asp / b / bant / biz / c / can / cgl / ck / cm / co / cock / d / diy / e / fa / fap / fit / fitlit / g / gd / gif / h / hc / his / hm / hr / i / ic / int / jp / k / lgbt / lit / m / mlp / mlpol / mo / mtv / mu / n / news / o / out / outsoc / p / po / pol / qa / qst / r / r9k / s / s4s / sci / soc / sp / spa / t / tg / toy / trash / trv / tv / u / v / vg / vint / vip / vp / vr / w / wg / wsg / wsr / x / y ] [Search | Free Show | Home]

I'm new to crypto and trying to understand the DAO etherium

This is a blue board which means that it's for everybody (Safe For Work content only). If you see any adult content, please report it.

Thread replies: 9
Thread images: 1

File: 1rBvym3.jpg (92KB, 640x640px) Image search: [Google]
1rBvym3.jpg
92KB, 640x640px
I'm new to crypto and trying to understand the DAO etherium hack. Seems pretty shitty that all it takes is for a bug in the code of a smart contract to start draining ether out and allowing someone to steal a huge portion of the coins.

How does the ethereum community vet each piece of code that runs on its blockchain? Bugs are always bound to happen so seems likely that this could happen over and over. What's to stop a person from purposefully coding a subtle bug for the purpose of exploiting it?
>>
Pisses me off because if that didn't happen and everything went good I would be a millionaire right fucking now.
>>
you can just hardfork anytime it happens. very easy fix.
>>
>>2452432
So you fork everytime there is a problem? Seems very tedious and lowers confidence which devalues everyone's investment. Once people really start using ethereum there will probably be bugs all over the place from people putting their badly coded apps on the network.
>>
>>2452415
Why wouldn't you still have those coins?
>>
>>2452542
I was long on eth and they sudden drop from the hacker liquidated my position.... THEN bitfinex got hacked (what the fuck) and I lost even more from the pile of shit I was left with. And that how my 1000 eth turned into 100 that I still hold to this day.
>>
>>2452719
Dude just cash out and get out of this game. You're sitting on 35k profit right now. Put it toward a real asset instead of holding fake money
>>
>>2452762
this. cash out now and rebuy later
>>
>>2452390
Look, any non-trivial piece of software has bugs. Heartbleed bug was in for 20 years, SMB1 for 30 years. If you're a pants on head libertarian, then reversal of DAO hack is a travesty to you. To me, ethereum team proved themselves to be extremely professional, and I'm glad these guys have the keys to ethereal kingdom vs the scumbags in bitcoin who took over when Gavin Andressen gave away the keys.

Speaking of smart contract validation - they'll come up with an automated system that will check common mistakes. Something like a static analyzer that looks for common cases, or a run time security tool like AppScan. Theres probably a lot of money to be made in offering that service as a SaaS if anyone here has the technical knowledge to implement it.
Thread posts: 9
Thread images: 1


[Boards: 3 / a / aco / adv / an / asp / b / bant / biz / c / can / cgl / ck / cm / co / cock / d / diy / e / fa / fap / fit / fitlit / g / gd / gif / h / hc / his / hm / hr / i / ic / int / jp / k / lgbt / lit / m / mlp / mlpol / mo / mtv / mu / n / news / o / out / outsoc / p / po / pol / qa / qst / r / r9k / s / s4s / sci / soc / sp / spa / t / tg / toy / trash / trv / tv / u / v / vg / vint / vip / vp / vr / w / wg / wsg / wsr / x / y] [Search | Top | Home]

I'm aware that Imgur.com will stop allowing adult images since 15th of May. I'm taking actions to backup as much data as possible.
Read more on this topic here - https://archived.moe/talk/thread/1694/


If you need a post removed click on it's [Report] button and follow the instruction.
DMCA Content Takedown via dmca.com
All images are hosted on imgur.com.
If you like this website please support us by donating with Bitcoins at 16mKtbZiwW52BLkibtCr8jUg2KVUMTxVQ5
All trademarks and copyrights on this page are owned by their respective parties.
Images uploaded are the responsibility of the Poster. Comments are owned by the Poster.
This is a 4chan archive - all of the content originated from that site.
This means that RandomArchive shows their content, archived.
If you need information for a Poster - contact them.