It has been fascinating to experience the DAO collapse and its impacts on the Ethereum blockchain and to see the way the community is reacting to potential forks. Now we’ve learned that the choice for the DAO is either hard fork or no fork and we’ll see in a few weeks time what the outcome will be. Meanwhile, the price of Ether has been falling against both bitcoin and US dollars. The price to borrow ether has fallen back to a steady range of just under 10% APR on Bitfinex over the same period.
I have been against both soft and hard forks regarding the stolen DOA all along the way. Mainly because investors in the DAO should have been more careful with their capital, and investing in the DAO turned out to be a lot riskier than first suspected (maybe by its utopian libertarian investors? 🙂 Although my opinion will have little impact on the community (since the people reading this blog are very few) and I don’t have a mining share, I hope the Ethereum miners will choose to let set the stolen ether float away. It seems like this outcome is the most likely (since the price of ether has been falling reflecting the potential increased supply and shift in demand caused by the DAO scandal.
Ethereum’s Vitalik Buterin: Democratic hard fork proves a mining oligopoly cannot engage in censorship
The Ethereum community, a large and disparate group of people, must decide in just over two weeks’ time whether or not to implement a hard fork of the protocol as a way of dealing with the DAO debacle. To recap, the DAO hacker drained around $40m (£30m, €36m) worth of ether.
Ethereum is Inherently Secure Against Censorship
It has been several days since Tjaden Hess, River Keefer and I wrote about how Ethereum’s planned DAO Wars soft fork is a potential vector for denial-of-service (DoS) attacks. That blog post prompted a community-wide re-thinking of fork dynamics. In this post, we want to delve into the ramifications of that post.
