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I'm not too sure but few things come to mind: 1. Upgrade protocol to include protections for well known cold wallets held by exchanges (ex: API call has to be
by zer0x4d 2y ago
I'm not too sure but few things come to mind:
1. Upgrade protocol to include protections for well known cold wallets held by exchanges (ex: API call has to be made to the exchange's security endpoint to validate each transaction out of the wallet. Exchange staff would need to manually allowlist large transactions before they are transmitted).
2. Decentralized voting on reversal of transactions (90-95%+ vote needed to reverse to avoid 51% attacks)
- killerstorm 2y agoEthereum is programmable, such a protocol can be implemented as a smart contract.
- lucianbr 2y agoGood luck getting 90% of a large group of people to vote the sky is blue.
- jeswin 2y agoThis is getting pretty close to the banking system, at which point one needs to ask - maybe just improve existing protocols?
- rs186 2y agoNot going to work, otherwise it would already have been done. People who control or take advantage of cryptocurrency don't want this to happen.
- j8k99kuyr 2y ago> 2. Decentralized voting on reversal of transactions (90-95%+ vote needed to reverse to avoid 51% attacks) Couldn't you technically just 'git checkout' a previous commit from before the fraudulent transaction occurred and pretend it never happened? Isn't the real problem that you'd have to convince a majority of users to do the same?
- ttyprintk 2y agoThe DAO experiment ended this way. Once an exploit started siphoning tokens to a new fund, that same exploit allowed anyone the same maneuver. Fixing an exploit is changing the rules, and the experiment would have ended in deadlock without it.