@oditorium I think hype + fact that Ethereum’s track record was yet unblemished resulted in too much trust in the smart contract code.
santisiri @lopp today investor and corporate contracts are also written in a dark language known only to experienced lawyers.
4) Trustless blockchain + untrusted code = ?
3) Thus, either smart contract investors are limited to a handful of techies (pointless) or investors must trust reviews from these people.
2) But there’s a problem: a smart contract’s terms are the byte code + EVM behavior. Likely fewer than 1,000 people globally can review it.
1) It’s easy to snark that “anyone investing in a smart contract must read the terms first” & thus investors deserve to lose money to flaws.
The world’s first Cypherpunk hedge fund. https://t.co/z80exsFIxs
Next up: Segregated Witness. https://t.co/eGDbgnXYNk
As expected, the “White Hat” DAO counterattack has triggered another cycle of attacks. https://t.co/J1htE0PdGE