The response has been both heroic and awkward. Then, Vitalik Buterin waded in, asked for exchanges to stop trading ETH and began asking for the collaboration of people who were in the process of splitting from The DAO. Users must create a proposal and wait a minimum of 1 week a debate period before actually initiating the split. The only way to remove the funds quickly enough is to rely on an existing split proposal that could be called immediately.
This included several users encouraging others to offer their private keys to Ethcore ethereum mistake Buterin to help solve it. Now, Buterinthe Slock. We do not think the issue is clearcut. There are powerful arguments on both sides. A fork would provide a sense of justice for victims and addresses a growing fear that Ethereum may not recover from ethcore ethereum mistake attack of this magnitude. The loss could also discourage consumer ethcore ethereum mistake of Ethereum, especially ethcore ethereum mistake many enthusiasts lost money, and this could in turn discourage the development of consumer services.
It is undeniable that not forking would have some chilling effect on Ethereum. However, ethcore ethereum mistake a hard fork will cast an even longer shadow on the fundamentals of the Ethereum network. A hard-fork, even community supported, seems like it would constitute either censorship rendering the drain effectively invalidthird-party interference, or both.
This would set a precedent that will be difficult to interpret going forward. A hard fork should be considered with the utmost care and debated thoughtfully, with many voices, and at length.
When is any catastrophe so big that the entire blockchain should get rewound? In other words, who is entitled to a blockchain bailout? Is it by magnitude of the theft? This is a big deal, but it is dwarfed by the biggest theft of Bitcoins from Mt. The Bitcoin community did not seriously consider a fork ethcore ethereum mistake recover these funds.
It is also not clear a loss of this magnitude would deal Ethereum a mortal wound: Is it by affiliation with the Ethereum development community? They held official positions. If affiliation and association helped drive this it would behoove all entrepreneurs to attract Ethereum developers to their boards. Is it by cause of the theft?
The way the DAO was using smart contracts made it vulnerable to this attack. Ethcore ethereum mistake all developers who make mistakes, even almost unforeseeable ones, be entitled to a hard fork?
The response to this is that no one person makes the decision about a fork, but given the swift support across the board it significantly stacks the deck in favor of a fork. Much of the defense of these forks come from the belief that there is a clear right and wrong in this scenario.
That the attacker was wrong and the investors are victims. The danger comes from the next instance ethcore ethereum mistake perhaps the community does not agree as strongly about the morality of the action that needs reversing. Regardless, if the Ethereum community approves a hard fork, it should develop a clear set of conditions ethcore ethereum mistake which future hard forks will be considered. Without this, it will appear that hard forks are at the whim of the community, and who influences the whim of the community?
If Ethereum chooses to address this attack though the use of forks then Ethereum will no longer have the same level of independence and neutrality as a platform moving forward. There are many ethcore ethereum mistake of centralized development environments with such guarantees.
This presents a challenge to the community — where does the DAO stop and the Ethereum team begin? How much did the members of Slock and the core Ethereum team invest in ethcore ethereum mistake Dao? These ethcore ethereum mistake questions the community will wrestle ethcore ethereum mistake.
No one can force the network to adopt a fork. However, there is the awkward fact that so many influential members of the community who also had a relationship with The DAO are supporting the fork. Even more awkward, the CEO of Slock. If the ethcore ethereum mistake cannot openly exchange ideas without accusation of conspiracy, it ceases to be a community. Who really owns the Ethereum? Users complain when software providers remove features but they are consumers of the product, not owners.
When reserve banks convene to decide on monetary policy, people wait as members of an audience, not a community: Vitalik Buterin has earned immense moral authority for his role in Ethereum and the cryptocurrency community.
He is a genius and has garnered respect as a trusted third-party. He carries the weight that Satoshi Nakamoto did with Bitcoin. Nakamoto stepped away from governance of Bitcoin, for better or worse, and the community had to make decisions without his wisdom, blessing, or criticism.
Developers are not elected officials. President Obama was heavily criticized for his support of Solyndra, a solar ethcore ethereum mistake which ultimately went bankrupt. If he had also been on the board of Solyndra AND had asked the US government to bail them out, corruption charges would be clearcut.
Hopefully a new sheriff will ride into town soon! The reality is that all paths forward from this incident for Ethereum present difficult tradeoffs and challenges.
The DAO has been attacked.
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