Re:Status Traps: Learning from Web2 Social Networks
by rglullis on Sunday August 14, 2022 @09:22PM
(#32464847)
Your mistake is thinking that the solution that was adopted for one instance of an issue is the only possible solution that can be used forever.
None of this is static. The DAO hack showed a flaw in the then-current practices of smart contracts. Developers learned from it, changes were made to the system. The system became more robust after it.
Much like any organism living in an ambient with evolutionary pressure, different mutations come up. After the DAO hack, some prefer to write their contracts in a way that allow some level of control by trusted admins, some of them still don't like the idea of privileged access to the contracts but will favor adoption of contracts only after formal verification. Some saw that as opportunity to specialize in contract security and become auditors.
None of these approaches are perfect by themselves. Other bugs will come, other "hacks" will exist, and hopefully each of these will act as evolutionary filter on the existing system.
Without a central authority, this is the only I see for systems to evolve. And if the whole point is to create an alternative that does not depend on a central authority, I'm fine with the current approaches to risk management.
None of this is static. The DAO hack showed a flaw in the then-current practices of smart contracts. Developers learned from it, changes were made to the system. The system became more robust after it.
Much like any organism living in an ambient with evolutionary pressure, different mutations come up. After the DAO hack, some prefer to write their contracts in a way that allow some level of control by trusted admins, some of them still don't like the idea of privileged access to the contracts but will favor adoption of contracts only after formal verification. Some saw that as opportunity to specialize in contract security and become auditors.
None of these approaches are perfect by themselves. Other bugs will come, other "hacks" will exist, and hopefully each of these will act as evolutionary filter on the existing system.
Without a central authority, this is the only I see for systems to evolve. And if the whole point is to create an alternative that does not depend on a central authority, I'm fine with the current approaches to risk management.