Ethereum’s ‘Unannounced Hard Fork’ Was Trying to Prevent the Very Disruption ...
A hard fork that split Ethereum’s chain in two was activated on purpose, calling into question Ethereum’s client coordination.
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Here's what the impending Eth 2.0 hard fork means, and why Ethereum devs are still debating the “Ice Age.”
The Ethereum hard fork, executed to prevent future hacks like the DAO fiasco, marks the first Ethereum bailout, according to Frances Coppola, a finance, banking and economics journalist, writing in Forbes. The Ethereum community needed the hard fork to prevent future hacks because the code wasn’t properly tested to begin with, disproving the claim of “immutability.” The majority of Ethereum miners had invested in DAO, so it’s no surprise they supported the hard fork since it allowed them to recover their investments. Those who objected on the grounds that the hard fork eliminated the....
Сonsidering the rising reputation of the Blockchain as something truly secure, the impact of the DAO attack might be disastrous not only for The DAO and Ethereum themselves but for R3 consortium and its members too. What if a smart contract fails. Getting back to business with the ‘hard fork’ would mean rolling all the transactions back to a point before the theft. Using a ‘soft fork’ instead would be equal to blocking all the transactions from the attacker’s address. Another option would be to do none of these and say, “That’s how the system works.” The option of doing nothing wasn’t....
An unannounced Ethereum hard fork disrupted service for users and underscored the differences between the two largest blockchain networks. The post “Unannounced” Ethereum Hard Fork Proves Not All Blockchain Networks Are Built The Same appeared first on Bitcoin Magazine.
Ethereum’s DAO hard fork update landed on GitHub yesterday, allowing users to vote on whether they support the Hard fork that will refund the DAO after the attack that drained around four percent of the total Ethereum (approx. 50 million US dollars worth at the time) in circulation from the smart contract. Ethereum Reaches A Crossroads with Hard Fork Update. This hard fork update, if successful, would wipe one of the biggest failures to happen in the cryptocurrency ecosystem away, giving the people with a stake in The DAO (and others who suffered from the subsequent price depreciation of....