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Just for the record, no transactions were rolled back. A special one time transaction was generated that moved all the ether from the Dao contact to a withdrawa
by RexetBlell 9y ago
Just for the record, no transactions were rolled back. A special one time transaction was generated that moved all the ether from the Dao contact to a withdrawal contract, from which all investors could get their ether back. Majority of the users upgraded their clients to be on the chain with this special transaction. The rest of the people (~15%) remained on the original chain without the special transaction, that chain is now called "Ethereum Classic".
- candiodari 9y agoThe DAO was unwound, including everything it had done. If that's your idea of "no transactions rolled back", I submit that that's exactly the sort of distinction without a difference I was talking about. This would be akin to solving a bank heist by simply rolling back all transactions involving that bank, including 2nd and 3rd degree transactions to before the heist. So if some person sold a house to a buyer with a mortgage from the bank close enough to the bank heist, and then went out and bought a bottle of champagne to celebrate with the buyer, the bartender would wake up the next day to find the payment for the bottle missing, and the house would be unsold, just so the investors in the bank would be guaranteed the money they invested to be loaned out. I mean I understand. This simple and automatically enforced contracts is every loaner and landlord's wet dream. They get that the rules are stacked against the tenants. They can rob tenants blind using this game. They don't realize that they cannot play this game against the banks, the millionaires and/or billionaires of our little planet, and they don't know any other game to make money.