The principle of Ethereum is that code is law, the "hacker" followed the law to the letter and acted in a prescribed manner. What's the crime here exactly?
The ethereum foundations reaction to the DAO hack proved that the "code is the contract" is not true. Which questions the very value of smart contracts on the ethereum blockchain because it's proven that they're immutable now
> The ethereum foundations reaction to the DAO hack proved that the "code is the contract" is not true.
I disagree. The code must also refer to the implementation of the Ethereum clients, and the collective will of the network participants. Those are implicit provisions of the contract, specified in advance. The Ethereum Classic chain still exists, and the thief is welcome to use it. People have simply voted with their feet and prefer a world without the theft. There is no breach of contract, anyone is free to fork the Ethereum network in any way, at any time. It is up to the users to decide how much value to ascribe each fork.
All obfuscation around a central controlling group that have the ability to reverse any transactions they don't like or negatively financially impact them, in other words.
Somebody exploited a flaw in the system and managed to grab millions of funny-money currency. It's like cheating at a game of monopoly except that many of the players think the rules of the game are "the law" in real life.
DINKDINK|8 years ago
This is a good discussion: https://www.bloomberg.com/view/articles/2016-06-17/blockchai...
darawk|8 years ago
I disagree. The code must also refer to the implementation of the Ethereum clients, and the collective will of the network participants. Those are implicit provisions of the contract, specified in advance. The Ethereum Classic chain still exists, and the thief is welcome to use it. People have simply voted with their feet and prefer a world without the theft. There is no breach of contract, anyone is free to fork the Ethereum network in any way, at any time. It is up to the users to decide how much value to ascribe each fork.
wwwv|8 years ago
tlrobinson|8 years ago
jhildings|8 years ago
crispyambulance|8 years ago
Somebody exploited a flaw in the system and managed to grab millions of funny-money currency. It's like cheating at a game of monopoly except that many of the players think the rules of the game are "the law" in real life.
codedokode|8 years ago