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I'm sort of confused[1] that formal proofs are not mandatory tools in this space. There's some Herculean effort underway[2] to create verified HTTPS stack. Th

I'm sort of confused[1] that formal proofs are not mandatory tools in this space. There's some Herculean effort underway[2] to create verified HTTPS stack. The failure mode in that case is maybe, sort of data leakage or server control that might be worth something to someone. In the Etherium case, they just walk away with cash. It takes a sort of hubris (or is it foolishness?) to think you can just be very very careful and it will all work out okay. [1] Actually, its more schadenfreude, partly with the audacity of the speculator and system market makers, and partly at the mindless waste these proof of work/stake systems require. [2] https://project-everest.github.io/ https://project-everest.github.io/

throwawayjava 9y ago
> that formal proofs are not mandatory tools in this space The stakes are extraordinarily low relative to situations where formal proofs are mandatory. For references, the list price of a single new 737 runs in the 50 million range, and the cost of the software for the 737 is amortized across many thousands of planes. 1. That's actual hard money. Real US dollars you can use to buy yachts and houses and avocado toast. Given the level of hype and amount of speculation, the true value of all the ether in the world is obviously considerably less than Ethereum's market cap. The hacker stole $30M 'worth' of ether, not 30M actual dollars 2. The cost of a plane crash is easily 10x the price of the plane, and of course you can't put a price on the lost souls.