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by zionic
1700 days ago
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Fair and square? It was a completely new failure mechanism found in one of the first major smart contract deploys. BTC had a similar early-phase bug that minted tons of coins by the way, that they also had to “claw back”. At least pretend to be unbiased. |
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https://en.bitcoin.it/wiki/Value_overflow_incident
The DAO hack resulted from a poorly-written contract. Concerns about the quality of the contract were ignored by the team. The DAO itself wasn't even part of the Ethereum protocol, just an application running on it.
The DAO was like a Bitcoin transaction that spent all output value to miner fees, which has happened a lot. But at no time did that ever result in a rollback of history.
The response to the DAO was the Ethereum community slapping a giant asterisk on the motto "Code is Law." And the community is quite all right with that.