RE: You can lose it ALL! A must read for Ethereum Whales (either ETC or ETH)

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You can lose it ALL! A must read for Ethereum Whales (either ETC or ETH)

in security •  8 years ago 

If only the ethereum community had adopted ideas that BitShares has had regarding transactions as proof of stake then this wouldn't be a problem.

Each and every Steem transaction references a head-block hash and is not valid on any other blockchain or fork.

Ethereum allows for a lot of blockchain reorganizations and migration of transactions from one fork to another.

This could be solved by changing the way transfer scripts are executed in the wallet to certify a recent block or even a checkpoint.

The question is, how much ETH has been lost due to replay attack?

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An absolute shit load and we've only just seen the tip of the iceberg. I personally got out of ETH way before the HF and although I got temped to jump back in to ETC to take advantage, it's way too risky.

Happy to sit out, hedge in other assets and invest in some upcoming Dapps on the horizon in the near future.

Bitshares is awesome but their marketing sucks and unfortunately this is 50% of your business.