1. Ryler Sturden

    Ryler Sturden Member Staff Member MC Developer

    I think this DAO attack proves the problem with having something as complex as Ethereum as the "base" of any system. Not only can Ethereum not scale to meet any serious demand in a decentralized way (unlike MicroCash), the complexities it allows in its transactions means an attacker can make the system very slow, or even hack it completely due to poor code in the transactions.

    The latter isn't a problem directed only at Ethereum of course, though I have no doubt Eth has bugs in its core language that haven't been found yet and will be exposed because the more complexity you offer, the harder it is to maintain and understand.

    It is a shame Vitalik decided to go this route :-
    [​IMG]

    Instead of this route :-
    [​IMG]
     
  2. fellow

    fellow Member

    this whole eth thing may or may not be usable in some ways. for sure this does not mean an end for smartcontracts on blockchains.

    burst runs such stuff without any issues for over a year now (even if nobody really uses them and it has not been a big target to attack yet).
    in the bitcointalk thread one of the team voices states there is some pr on its way:

    https://bitcointalk.org/index.php?topic=1323657.msg15269651#msg15269651:
    "BURST was the FIRST coin to have Automated Transactions working, with a fully 'Turing Complete' language. BURST is the most trustworthy AT system in existence. This PR will prove that."

    if i read between the lines they want to make the architecture to a target of interest to proof it is secure.

    "All this will take, is people sending some coin to an AT CF, then the coin will be sent back to you. But there is a twist, and that twist is what the PR will be about.All this will take, is people sending some coin to an AT CF, then the coin will be sent back to you. But there is a twist, and that twist is what the PR will be about."

    if they setup a crowdfund AT with a goal that cannot be reached all coins will be automatically send back after the time to hit the goal has passed by.
     
    Last edited: Jun 20, 2016
  3. Ryler Sturden

    Ryler Sturden Member Staff Member MC Developer

    A programming language at the base of the system is stupid though. You cannot have fast transactions if you allow such things. What these guys is have the fancy features and then tell you if you want fast transactions just use central banks (Bitcoin and Eth are going down this path).

    It should definitely be the reverse, all the transactions public, out in the open, fast as hell, with the optional, slower stuff able to be used if wanted but it having almost no impact on the fast "Freeway to freedom".

    I hoped crypto was about designing a new system to give the power back to the users rather than putting a new name on the central bank.
     

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