News for hackers. Stuff that matters.
Re:DeFi risks and the decentralisation illusion by JacobThreeThree on Tuesday December 21, 2021 @02:45PM (#29641259)
Instead of having to curry favor with bankers, you now have to do so with a clique of developers, lest they hard or soft fork your crypto out of existence.

“The development community is proposing a soft fork, (with NO ROLLBACK; no transactions or blocks will be “reversed”) which will make any transactions that make any calls/callcodes/delegatecalls that execute code with code hash (ie. The DAO and children) lead to the transaction (not just the call, the transaction) being invalid, preventing the Ether from being withdrawn by the attacker past the 27-day window. This will later be followed up by a hard fork which will give token holders the ability to recover their Ether.”

Vitalik Buterin in response to the DAO Vulnerability on June 17

Re:DeFi risks and the decentralisation illusion by hrhrhrhrhr on Tuesday December 21, 2021 @03:30PM (#29641730)
This is the actual issue with DeFi's "decentralization", not what the article talks about.

Bitcoin remains the only decentralized cryptocurrency that keeps living without governance.

Re:DeFi risks and the decentralisation illusion by tata71 on Wednesday December 22, 2021 @12:25PM (#29652338)
At this stage of maturity, ETH would never survive a fork like that,

which is pretty evident given the umpteen hacks that have happened since going unabated!