Re:Deleting $300M by messing around with Ethereum contracts
by kbart on Monday November 20, 2017 @08:29AM
(#15739721)
Exactly. And this is just because there are no regulations to make it illegal and standard protocols to follow that, as I've mentioned in my first post, is the key requirement if crypto economy is to be something more than just a wet dream of crypto-anarchists.
Re:Deleting $300M by messing around with Ethereum contracts
by dagw on Monday November 20, 2017 @11:35AM
(#15741132)
But if one of the design requirements that we want/need is that people can override any contract and roll back any transaction, what do we gain from a blockchain/crypto based solution.
Secondly and more importantly, the fail-safes built into the system largely work. In the Bangladesh case for example the vast majority of the money they where attempting to steal was never transferred due to humans intervening and overriding the transfer order. And even a non-trivial amount of the money that was transferred was later recovered by reversing the transaction.