[2016-05-29]Technology Used By The DAO Contains Critical Flaws

Karartma1

legendary

Activity: 2310

Merit: 1422

Quote from: TraderTimm on June 18, 2016, 10:42:19 AM

Here's all you need to know about the failed DAO - or should we call it DOA.

http://hackingdistributed.com/2016/06/17/thoughts-on-the-dao-hack/

More technical info here:

http://hackingdistributed.com/2016/06/18/analysis-of-the-dao-exploit/

To say that there were just a few flaws would be generous. It seems that in their rush for accumulating a pile of money, someone forgot that code-as-a-contract means you have to be very SURE you're doing things correctly.

These are exactly the kind of information that I was looking for. The DAO's been a great idea for their funders but not for their investors.
I am getting increasingly convinced it has been a kind of friendly fire to get some funds out.

TraderTimm

legendary

Activity: 2408

Merit: 1121

Here's all you need to know about the failed DAO - or should we call it DOA.

http://hackingdistributed.com/2016/06/17/thoughts-on-the-dao-hack/

More technical info here:

http://hackingdistributed.com/2016/06/18/analysis-of-the-dao-exploit/

To say that there were just a few flaws would be generous. It seems that in their rush for accumulating a pile of money, someone forgot that code-as-a-contract means you have to be very SURE you're doing things correctly.

BurtW

legendary

Activity: 2646

Merit: 1137

All paid signature campaigns should be banned.

Proved.

Karartma1

legendary

Activity: 2310

Merit: 1422

Very good article. I was looking for something like what it said in there. I noticed that while testing eth with some friends. Yes, at the moment is not at all bulletproof and it can be really bad if implemented, let's say, in some NGO's or similar.

Quote

Some investors may be looking for ways to pull their ETH funds out of the DAO.

I would rephrase: some investors WILL be looking...

Blawpaw

legendary

Activity: 1596

Merit: 1027

Technology Used By The DAO Contains Critical Flaws

One of the main selling points of The DAO has been how people can just trust the technology since there are no individuals in control of the concept. However, as it turns out, this technology may contain some flaws that most people weren’t aware of. All of these vulnerabilities come forth from unintended consequences of the project’s underlying mechanism...

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Topic: [2016-05-29]Technology Used By The DAO Contains Critical Flaws (Read 486 times)