Re:Critical Update on DAO Vulnerability
by drinchev on Friday June 17, 2016 @03:55PM
(#11925159)
I UPvoted your comment.
Aside from everything. In writing a contract, it's very common to write price with numbers and letters in brackets next to them. E.g. 1000$ ( one thousand dollars ), exactly because typos happen.
The decision what a typo is is made by the parties, in case of dispute then by several courts ( based on the evaluation of the contract ). That's at least in continental law system.
There's a way to specify a 3rd party court ( non-corrupted one, called arbitrage ) which can solve disputes for that contract.
Corruption of judges problem is being fixed also in several ways. Usually decisions in high courts are decided by 3 judges ( again continental law ) and sometimes a jury ( prevailing in anglo-saxon law system ). Also there is a way to appeal the decision of the court to a higher court(s).
Re:Critical Update on DAO Vulnerability
by cmdrfred on Friday June 17, 2016 @05:13PM
(#11925594)
It's impossible to corrupt a 3rd party judge (shouldn't all courts be third parties?), or 3 judges? I agree it's the best system we have today, but it won't be tomorrow.
Aside from everything. In writing a contract, it's very common to write price with numbers and letters in brackets next to them. E.g. 1000$ ( one thousand dollars ), exactly because typos happen.
The decision what a typo is is made by the parties, in case of dispute then by several courts ( based on the evaluation of the contract ). That's at least in continental law system.
There's a way to specify a 3rd party court ( non-corrupted one, called arbitrage ) which can solve disputes for that contract.
Corruption of judges problem is being fixed also in several ways. Usually decisions in high courts are decided by 3 judges ( again continental law ) and sometimes a jury ( prevailing in anglo-saxon law system ). Also there is a way to appeal the decision of the court to a higher court(s).