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Using smart contracts doesn't mean you completely forgo human intervention. Blockchains themselves have standardized discretionary escape hatches in the form of
by leppr 5y ago
Using smart contracts doesn't mean you completely forgo human intervention. Blockchains themselves have standardized discretionary escape hatches in the form of hard forks. Nobody except straw-man'ing detractors claim current cryptocurrency systems work perfectly.
Previous relevant comment of mine on the matter of "Code is law": https://news.ycombinator.com/item?id=28132994 https://news.ycombinator.com/item?id=28132994
- jdkfglkjh34 5y agoIt begs mentioning that the ETH/ETC hardfork was a consequence of a theft just like this one. https://en.wikipedia.org/wiki/The_DAO_(organization) https://en.wikipedia.org/wiki/The_DAO_(organization) >In June 2016, users exploited a vulnerability in The DAO code to enable them to siphon off one-third of The DAO's funds to a subsidiary account. On 20 July 2016 01:20:40 PM +UTC at Block 1920000, the Ethereum community decided to hard-fork the Ethereum blockchain to restore virtually all funds to the original contract.[10] This was controversial, and led to a fork in Ethereum, where the original unforked blockchain was maintained as Ethereum Classic, thus splitting the Ethereum blockchain into two branches, each with its own cryptocurrency.