Seems like the ETH / DAO crisis has fuelled a trip down memory lane for a lot of folks on Polonibox, linking a possible ETH rollback with VRC's rollback and the following crash. Could you guy explain what happened then, how did you make that decision and how are you preventing it from happening again? I think this is the best way to avoid rumours and false information from spreading in this veri sensible period.
TY
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It was really amazing at the time, because Vericoin was a much bigger deal then. I can't recall the exact amount stolen, but I believe it was a large percentage of all the VRC in existence. So much that if VRC hadn't forked it would be effectively dead. So in that sense I think it was a little different than the ETH situation, where ETH would be hurt badly but probably could survive even without a fork. The VRC fork was a big enough deal though that I remember LTC dev Coblee arguing angrily against it (seemed like kind of a dick about it to be honest). Anyway you're right; VRC is sort of the fork-to-prevent-theft trailblazer.
8 million coins were stolen. Also a big difference is the coins were stolen through no fault of the Vericoin developers. From everything I have read the faulty code in ETH was known for about a year so if that was the case it wasn't a matter of if but when. After the rollback the team took a yea but cause with PoST so if something like the mental hacked ever happen again the coin couldn't be controlled. So it was a bad situation with people on both sides of the fence BUT they took that opportunity to improve the protocol for the better and that to be commended!!
+1 respect to VRC devs to not quitting but learning and evolving from the situation
Right now VRC is very interesting coin
Veri Interesting coin.
Devs have been working hard on PoST, and so far been great.
?? yay!!!!!!
