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A comment on $34M permanently locked into AkuDreams contract forever due to bad code. Parent comment

Re:$34M permanently locked into AkuDreams contract forever d... by PretzelPirate on Saturday April 23, 2022 @12:31PM (#31135731)
I think this is a good point to go deeper on. Layer 1 should be immutable and irreversible, while Layer 2 can have public, multi-sig/vote-based upgrade processes.

In this case, on a layer 2, the contract code could be updated, but only if those with locked ETH vote for the upgrade to be processed. Better yet, the Layer 2 could allow ETH to be withdrawn from the contract by the owners and the contract itself could be deleted.

I think the general, technically-informed public often miss the distinction between Layer 1 and Layer X and how they differ in the need for decentralization and censorship resistance while still providing users with security.

[ Parent | on HN ]
Re:$34M permanently locked into AkuDreams contract forever d... by nathias on Saturday April 23, 2022 @12:40PM (#31135842)
Even the industry isnt quite there yet, what we will probably see, will be a truly post-maxi crypto that will focus on interoperable dapps and other higher abstract decentralized entities that will be agnostic towards their L1 and will just plug them in as needed ...
[ Parent | on HN ]