The DAO Crossroads: Forking or Exploiting the Attacker
There has been a lot of focus on what has been happening to The DAO. But it looks like the Slock.it team is planning a counter-attack. A plan of action is on the table as this situation needs to be addressed sooner rather than later. Over the past few days, two separate attacks have plagued The DAO. The first attack saw over 3 million ETH being drained....
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Ethereum Classic lost more than 10% of its value today with price standing just above $1 as the network comes under sustained dos attack. The attacks are similar to those experienced by Ethereum over last month. A programmer is exploiting gas mispricing for certain op codes to drain nodes of memory and other resources thus slowing them down. Who or why is a matter of speculation. For ETC, considering the dramatic price movement, it could well be financially motivated and might not even be the original attacker, but a copycat. Ethereum Classic’s Price Crashes as Network Comes Under Dos....
Gavin Wood, founder of Ethcore, maintainers of Parity, Ethereum’s second most used client, has called for a hardfork stating that it would instantly fix “the underlying flaws that the attacker is exploiting.” For more than two weeks Ethereum has been undergoing a number of Dos attacks which exploit an underlying flaw: “EVM operations are grossly underpriced compared to the rest” – says Wood. The attacker has exploited this “with an inventive array of DoS contracts, all revolving around making clients do more work or consume more memory than the gas the transactions spent pays for,”....
Ethereum has successfully upgraded its network to address a number of attack vectors that were constantly exploited in September and October of this year. Just before Devcon2’s opening, an attacker exploited a smart contract gas mispricing bug which threatened to derail Ethereum’s big day. The developers, however, were able to take emergency measures, allowing the network to continue operating, but after Devcon2, for a period of two weeks, the attacker kept exploiting the same bug in different and creative ways, leading Gavin Wood, founder of Parity Technologies, to call for a hardfork.....
Pointing out the potential issues with forking Terra, CZ said that “Minting, forking, don’t create value.” Changpeng “CZ” Zhao, the CEO of crypto exchange Binance, recently questioned the idea of hard forking the Terra blockchain as a means to revive the once-thriving LUNA and UST ecosystems. Following up on the same, CZ revealed his perspective on the appropriate course of action for falling projects across the crypto community.“This won’t work,” said CZ while dismissing the validators’ idea of a hard forking to TERRA2, which would involve providing a new version of LUNA to all holders....