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It only updates the code that will run. Fixing it going forward. To protect oneself against losses due to bugs people can use insurance smart contracts.

• saghm 1y ago
  I guess I'm just skeptical that writing more code to try to protect against code being buggy will result in a system that works better than what we have today. Software with tests written for it still has plenty of bugs, after all.
  • charcircuit 1y ago
    Expecting code to be perfect and code complete the first time around is typically a losing bet.
    • saghm 1y ago
      I completely agree, which is why I don't think that contracts should be expressed in code in the first place. You have to spend a lot of effort up front just to reach parity with contractual systems that don't rely on code, and even if you get to that point, it's not really clear to me what benefits you'd get over what we have today.