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It's the same as open source software, most people don't personally look at the source code of the Linux Kernel, but they trust it more than Windows because the
by TimJRobinson 5y ago
It's the same as open source software, most people don't personally look at the source code of the Linux Kernel, but they trust it more than Windows because they know many thousands of others have looked at it and haven't found issues.
Open systems lead to less trust required, because anyone can verify and report issues. Open finance leads to less trust required because anyone can verify and report issues with the smart contracts.
- astrange 5y agoDon't the smart contract systems not allow patching, so there's no point in reporting issues?
- TimJRobinson 5y agoMany are upgradeable, though it's the common libraries that people use that matter. The Ethereum ones have been battle hardened over years of exploits so you can use them just like you can build on common Unix primitives to avoid mistakes in new projects.
- pjc50 5y ago> anyone can verify and report issues with the smart contracts. .. anyone who finds an issue in a smart contract can just steal it. Potentially all of it. Pseudonymously.
- tata71 5y ago> haven't found issues No, they have. https://www.cvedetails.com/vulnerability-list.php?vendor_id=33&product_id=47&version_id=0&page=1&hasexp=0&opdos=0&opec=0&opov=0&opcsrf=0&opgpriv=0&opsqli=0&opxss=0&opdirt=0&opmemc=0&ophttprs=0&opbyp=0&opfileinc=0&opginf=0&cvssscoremin=7&cvssscoremax=7.99&year=0&cweid=0&order=1&trc=662&sha=27cc1be095dd1cc4189b3d337cc787289500c13e https://www.cvedetails.com/vulnerability-list.php?vendor_id=... That's just less important than running free software to some people. For better or worse.