Re:Ethereum Is a Dark Forest
by jkepler on Friday August 28, 2020 @09:28PM
(#24312457)
> the endless stream of wallet provider hacks is not convincing anyone that it's secure
Does the endless theft of money through central banks' intentionally inflating the money supply increase your faith that government fiat is secure? Hacks against centralized wallet providers don't count as security weaknesses in decentralized protocols such as bitcoin.
Perhaps the current danger with Ethereum-based DeFi is that its far too centralized, and typically (but not necessarily) contracts deployed on it are also far to centralized in their design, governance, and security reviews before deployment.
Does the endless theft of money through central banks' intentionally inflating the money supply increase your faith that government fiat is secure? Hacks against centralized wallet providers don't count as security weaknesses in decentralized protocols such as bitcoin.
Perhaps the current danger with Ethereum-based DeFi is that its far too centralized, and typically (but not necessarily) contracts deployed on it are also far to centralized in their design, governance, and security reviews before deployment.