RE: Crypto Tips: Ethereum, The DAO, and How Ether Classic Was Born

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Crypto Tips: Ethereum, The DAO, and How Ether Classic Was Born

in crypto •  8 years ago 

I think it's important to point out that the flaw was in the DAOs' code and not the Ethereum network protocol. Smart contracts with bad code can and will be exploited but it doesn't mean the underlying network is insecure. The Ethereum Foundation is often critisized for hardforking after the DAO but the truth is it's an open source project and anyone can fork it for any reason. There are private forks that enterprises are running, and some people deciding to keep the original chain going is completely legitimate as well. I think long term Ethereum will be wildly successful because of the massive amount of developers and capital being poured into it. The use cases far exceed anything bitcoin can offer although I think bitcoin will still be important for quite some time as a store of value.

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