Re:The Ethereum merge is done
by anony23 on Thursday September 15, 2022 @05:05PM
(#32858446)
I'm an Eth fanboy and I find this take hyperbolic. It's programmable money and often a security nightmare. In order for smart contracts to replace paper contracts in the way you describe, every participant needs to be a software engineer that can audit the code.
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Not every smart contract needs to be unique or original. A well-audited library of reusable smart contracts that is published and/or endorsed by a coalition of reputable entities can provide most of the functionality that most businesses and people would typically need. Think of the standard form agreements that are offered by companies like LegalZoom, etc.
Yes, Ethereum's security model is a problem. There's no reason to believe, however, that it won't be improved upon.