Should We Trust Blockchain ? - page 6.

Febo

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Quote from: Teamfearless on January 18, 2019, 01:55:27 AM

According To expect they always say blockchain can never be hacked and your information can never be stolen .. But day in day out Hacker are hacking crypto exchanges to steal people asset , ETH Suspended hard Fork because of security reason . HitBTC and Cryptopia are understand maintenance because of hacker . Are they Using block-chain technology to deceive Us ?...

Not sure why you mix centralized exchanges into block chain. But any block chain can have a bug. It all goes to how many eyes there is to check the code and how many people test on testnet before it goes live. You can notice difference between Monero and Bitcoin towards Etehreum. First two are making baby steps not risking bugs. Ethereum just jump no matter what will happen. They can rewind their immutable code anyway.

Rapidgator

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Quote from: Teamfearless on January 18, 2019, 01:55:27 AM

According To expect they always say blockchain can never be hacked and your information can never be stolen .. But day in day out Hacker are hacking crypto exchanges to steal people asset , ETH Suspended hard Fork because of security reason . HitBTC and Cryptopia are understand maintenance because of hacker . Are they Using block-chain technology to deceive Us ?...

If they think that there is a real issue of suspended hard fork that means they're really want to share only the best version of the project. I would be starting sceptical thinking with some bigger issues related to blockchain technology.

ivaf

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Quote from: Teamfearless on January 18, 2019, 01:55:27 AM

According To expect they always say blockchain can never be hacked and your information can never be stolen .. But day in day out Hacker are hacking crypto exchanges to steal people asset , ETH Suspended hard Fork because of security reason . HitBTC and Cryptopia are understand maintenance because of hacker . Are they Using block-chain technology to deceive Us ?...

You are a little confused. Blockchains do not hack. They can be attacked, but not hacked.
In the cases you have listed, we have:
- for exchanges - the site security system was hacked, as a result of which the attacker was able to withdraw funds;
- for Ethereum hardfork - it was postponed due to a bug found in the update code (to fix it).

sergeykravchenko1959

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The blockchain platform is a technology that underlies the operation of crypto coins. It is transparent, decentralized and in the records of which it is impossible to make changes. You can lose your investments if you are not careful when storing your coins, but this does not in any way relate to the blockchain, but only to the exchangers and purses that you use.

terible.hunter

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My point of view as a whole does not change, because a very large number of people are interested in this technology today, so I think that now it’s probably just a technology and it is already changing the world.

IndianaJons

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Hard Fork Ethereum did not take place due to the lack of support from the mining pools. Over 40% of them did not support hard fork. Therefore, information about errors in the code was invented.

creeps

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Quote from: 2tang on January 19, 2019, 06:48:55 PM

blockchain does not mean it cannot be hacked because blockchain is not a security system but is a technology that can store and send data efficiently and can be used for any purpose depending on the user and the security level depends on the user so if there is hacking you cannot blame blockchain but it was a mistake from the developer who could not secure their project

Everything is vulnerable in cryptomarket, and I agree that the developer should maintain the most advance security to protect the system. Always remember that the technology is growing and the hackers are also using that advance technology to collect money. We can trust blockchain, but we should know how to secure it.

sixexgames

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Well I think the 51% attack on Ethereum Classic showed the risks involved in have a PoW consensus mechanism... especially for smaller coins of PoW, I'm not sure any of them is safe. And exchanges really need to make security #1 priority... we can't keep having these hacks happening.

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Quote from: Teamfearless on January 18, 2019, 01:55:27 AM

According To expect they always say blockchain can never be hacked and your information can never be stolen .. But day in day out Hacker are hacking crypto exchanges to steal people asset , ETH Suspended hard Fork because of security reason . HitBTC and Cryptopia are understand maintenance because of hacker . Are they Using block-chain technology to deceive Us ?...

Who says blockchain cannot be hacked? Of course it can ba hacked that's why cryptocurrencies and exchanges keeps on improving their securities so that malware's will not be able to catch-up to their updates.

monineklutak

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we have to believe in the blockchain because even though it can still be hacked but so far the blockchain technology is the safest so if we don't believe what other technologies will we trust?
The blockchain is the best technology at the moment but unfortunately there are always people who want to use it for their own benefit by cheating or hacking and this really tarnishes the name of the blockchain so it's not surprising that many people are starting to doubt the blockchain because there's always a destroyer

Slark

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It's different. They break into exchanges and steal money from those who are poorly worried about their safety. The blockchain itself does not pose any threat.

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Quote from: OluwaTosin10 on January 19, 2019, 03:31:13 PM

Quote from: Teamfearless on January 18, 2019, 01:55:27 AM

According To expect they always say blockchain can never be hacked and your information can never be stolen .. But day in day out Hacker are hacking crypto exchanges to steal people asset , ETH Suspended hard Fork because of security reason . HitBTC and Cryptopia are understand maintenance because of hacker . Are they Using block-chain technology to deceive Us ?...

To be honest
The questions should be do we have a choice ??

We still have to get involved with the crypto currency exchange to transact business one way or the other

I think the vulnerability will be eased soon

It is still better if people should not keep their crypto to any exchanges because it is vulnerable to any attacks. There are available hardware wallets already, all we need to do is to buy one or two to keep our crypto in it and it is totally safe. The fault is really on the exchanges and to the people who are lack of knowledge about of the exchanges.

2tang

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blockchain does not mean it cannot be hacked because blockchain is not a security system but is a technology that can store and send data efficiently and can be used for any purpose depending on the user and the security level depends on the user so if there is hacking you cannot blame blockchain but it was a mistake from the developer who could not secure their project

RokOrids

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As an idea, the blockchain itself has tremendous potential. As for the hack, then the question is more to the software implementation. When implementing software, whether it is a crypto-exchange, wallet or something else, then it is a matter of the human factor. Mistakes can be intentionally or accidentally made to steal funds.

Perhaps this is a bit naive, but I have high hopes for the blockchain technology, for the future and far beyond the scope of the usual currency. Roll Eyes

khufuking

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Blockchain itself can't be hacked or modified as others said but that will not make anyone using it shielded against hack or money loss, for example, if someone steals your private keys and took all your Bitcoin, who to blame here? Blockchain technology or your ways of storing your private keys! and that is the same case with exchanges they have flaws in their system and it is not blockchain fault.

TastyChillySauce00

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Those exchanges you mentioned are centralized exchange where they store the data within a single server and thus can be stolen. That have absolutely nothing to do with blockchain. Blockchain is immune to hacking but not to 51% attack. However, a coin with big hash power will hardly be attacked.

MonaLeeTracy

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Quote from: lotfipro on January 19, 2019, 06:08:57 PM

Of course yes. I think it's the unique thing which we can trust. These news with cryptopia doesn't make any influence on the whole market. Blockchain projects are still confident. I wish more people will start using them.

I'm also sure that we really have to trust the blockchain too, even though the blockchain is still down, but we just believe that something good will happen suddenly and make us happy not only temporarily.

Ditlycel

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Quote from: maxilopez on January 18, 2019, 07:19:52 AM

Of course, it’s because our future and the world economy are behind this technology.

I agree, if we believe in cryptocurrency and its growth, then we should actually believe in blockchain ! especially now when the blockchain is the development of

TrevorS

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Quote from: lotfipro on January 19, 2019, 06:08:57 PM

Of course yes. I think it's the unique thing which we can trust. These news with cryptopia doesn't make any influence on the whole market. Blockchain projects are still confident. I wish more people will start using them.

Anyway, nothing can be trusted, we can not fully understand the technology, it can have a critical vulnerability known only to a very narrow circle of people. You should always be on the alert and ready for anything.

Dondont

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Quote from: Teamfearless on January 18, 2019, 01:55:27 AM

According To expect they always say blockchain can never be hacked and your information can never be stolen .. But day in day out Hacker are hacking crypto exchanges to steal people asset , ETH Suspended hard Fork because of security reason . HitBTC and Cryptopia are understand maintenance because of hacker . Are they Using block-chain technology to deceive Us ?...

after all, if you wish the blockchain could cope with hacking on online networks, then you're wrong, Blockchain is different on this, so security on the blockchain I think is still the same as security before. He only gives mark anonymity. So you wanna trust, just leave blockchain, because the security is still in development. Yes, some people purposes didn't fit in this one

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