|
|
|
|
|
|
by postcynical
1329 days ago
|
|
|
Bitcoin. Ethereum. Etc. They don't go down if you turn off your Raspberry Pi. I also can be 99.9999% sure that they run correctly and Ethereum itself is pretty unhackable, as proven by the multi-billion bug-bounties. The smart contracts running on Ethereum are open source, unlike your PHP script, can be audited, and if marked immutable, i'm sure no malicious person/business can hack or change it, and if they do it has an auditable backlog. |
|
|
This is tech. Not its applications.
> The smart contracts running on Ethereum are open source, unlike your PHP script, can be audited, and if marked immutable,
Ah, to once again have a child's wonder and belief in magic. Just add th incantation "blockchain ethereum smart contracts", and all is right with the world.
Meanwhile reality [1] just in the past ten days:
--- start quote ---
Insufficient validation on an OHM smart contract at Bond Protocol allowed an attacker to drain 30,437 OHM (~$300,000) from the Olympus DAO defi protocol.
Olympus DAO wrote in an announcement that "This bug was not found by 3 auditors, nor by our internal code review, nor reported via our Immunefi bug bounty."
---
On October 14, Ethereum reached a milestone that alarms many who have pushed for blockchains as "censorship-proof" technology. More than 51% of blocks produced in the preceding 24 hours were processed by relays that filtered out transactions involving Tornado Cash
---
The defi project Earning.Farm lost 748 ETH (~$971,000) to a hacker using a flash loan attack. The project contract was missing a check that a flash loan was initiated by the protocol, so the attacker was able to instruct the project to withdraw large amounts of funds
---
Rabby Swap, a feature of the Rabby crypto wallet, was exploited a month after it was first rolled out. An attacker discovered an apparent vulnerability in the Rabby Swap smart contract that enabled them to arbitrarily transfer other users' funds.
--- end quote ---
[1] https://web3isgoinggreat.com/