Ethereum DAO Critics Call for a Moratorium
The Distributed Autonomous Organization (DAO), a smart contract on the Ethereum blockchain that has raised 11.5 million Ether, has some design issues that could cause investors to act in ways that could undermine the project. Three individuals, Dino Mark, Vlad Zamfir and Emin Gun Sirer, have called for a moratorium on proposals to prevent losses to the DAO. The DAO is the largest crowdfunding event in history. A white paper analyzes the rules of the DAO and examines problems in its design that could motivate investors to act strategically, meaning in opposition to truthful voting to reveal....
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A new revelation about the DAO has come in from the publication Hacking, Distributed written by researchers and cryptographers Dino Mark, Vlad Zamfir, and Emin Gün Sirer. The three have written a 13-page paper describing potential attacks to the DAO ecosystem called “A Call for a Temporary Moratorium on The DAO.” So far the DAO has raised 12.07 million Ether equivalent to $132.32 million USD at the time of writing. The DAO pre-sale is officially closed. The project has so far been the largest crowdfund to date and holds roughly 14% of the Ether in existence. The researchers from Hacking,....
Bitcoin is constantly the subject of controversy, bringing out pundits, skeptics, and critics of all kinds and of various domains. Economists call it a bubble, investors call it rat poison, and environmentalists claim it is slowly killing the planet. Energy FUD is an easy target for the cryptocurrency due to the complex, proof-of-work consensus algorithm […]