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That's both a downside and an upside though - they do exactly what they say they will do. The issues occur when people don't realize exactly that they say they
by xur17 5y ago
That's both a downside and an upside though - they do exactly what they say they will do. The issues occur when people don't realize exactly that they say they will do. To me it's just a different set of trade offs.
Also, it's worth noting that this contract wasn't audited, a baseline practice in the industry. Most larger contracts go through multiple waves of audits, while this was apparently released with exactly 0 (so hard for me to be shocked when there are issues).
> A code audit likely would have caught this (this type of bug is so common in software development, I’ve probably made it hundreds of times myself), but of course this smart contract was not audited. Only its sister-contract on the Binance Smart Chain, written in a different language, was.
- tornato7 5y agoAny experienced crypto investor knows that putting money into an unaudited contract that's less than a few months old is basically throwing that money away. There is another side to this, though, which is that protocols than have been around for a year or more without problems are quite trustworthy and become important building blocks for DeFi.
- anyfoo 5y ago> have been around for a year or more without problems > quite trustworthy As someone being used to write fixes to code that is 20 or even 30 years old, I had to chuckle.
- miracle2k 5y agoYes, but these smart contracts are often fairly short (in essence, they shift value from one ledger entry to another), and not every bug is exploitable. They are also effectively paying a bounty worth hundreds of millions of dollars if you can find an exploit. It is not unreasonable to feel increasingly confident in their safety after some time.