net-ARB and BTCJam Fallout Highlights Necessity of Smart Contracts
31 march 2016 – BTCJam and net-ARB have been squabbling over the past few days over claims of false Bitcoin rewards issued by the former. Both companies have sent out emails to users denying responsibility for the false arbitration rewards, each blaming the other for the confusion and false reward claims. Net-ARB cites a 3rd party for verification of claims, whereas BTCJam cites the partnership between the 3rd party and net-ARB as the reason for their discontinued business. This entire dispute Highlights the need for robust, transparent smart contracts in the Bitcoin Blockchain ecosystem.
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BTCJam releases statement as promised. The Bitcoins have moved to 1687v9NexfUC6U6G1xBrEkLWYi3WSDn4qL and are being sent through Shared Coin into cold storage. BTCJam has gone offline for security updates with our servers. Email from BTCJam's Alexis Ajono: "If you guys believe your accounts were hacked, please send me an email. We are currently looking into this, and I am comprising a list of claims. Thank you, and please stand by for an official statement later on today." Original Story. Check out this Bitcoin Address: 1JBBbQkwR6qVmxyPq22VsfygeLdFYgqhmP. Over the last hour, Bitcoin has....
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