Not a single TheDAO proposal has even been close to reaching a quorum [0] to pass a vote. How is this ratification supposed to happen?
[0] https://dao.report/?sort=popular&keywords&status%5B0%5D=1&st...
Re:Critical Update on DAO Vulnerability
by thescriptkiddie on Friday June 17, 2016 @01:10PM
(#11923874)
So far there hasn't been a single serious proposal, so naturally nobody is voting.
That's not true.
Proposal #5 "Moratorium on proposals" only reached 8.86% of 20% quorum before voting ended.
Yet the moratorium is already in effect... as you can see there aren't any other real proposals out. Everyone is waiting to sort out these huge bugs in the framework.
https://www.reddit.com/r/ethereum/comments/4ns5nl/news_on_th...
I'm a Dao member (or at least I was this morning..!) and didn't vote on that one -- I didn't see the point in voting on proposals that are polls as opposed to votes on moving money to a specific address. There are forums to discuss general strategy, doesn't need to be a poll.
The project leadership can only propose change. Change requires "ratification" by a majority of miners as well as the support of node operators and holders.
> So what now are the benefits of Ethereum smart contracts over the traditional legal system?
The contract can only be invalidated by a significant majority / supermajority of the community through the consensus process. Therefore this is unlikely to happen often if ever, and if so, only in very extreme, clear circumstances in which the entire community is in jeopardy. [0]
[0] Theoretically.