How EOS can solve problems in Executable Contracts
QuadrigaCX apparently lost 67,000 ETH which in current value is approximately $15,000,000
The issue is ETH script does not have an integrated bug fix in it which makes executed contracts irreversible without compromising the entire blockchain itself and subsequently creating a hard fork.
EOS on the other hand can overcome this because the block holders can vote to update code, without having to resort to a hard fork. This is what I call Representative Democracy.
@roshania Cryptocurrencies will save the world, mark my words
Blockchain will save the world.
By making us all more happier I hope
But before that happens, there will be some fussing and fighting...
Agree with this
Don't know about saving the world but it'll make us wealthier. Of this I have no doubt.
Their votes are worth 15 mill literally.
I hear you
I like Quadriga - but I wont hold anything there long term after this nonsense :|
For a rule I don't leave funds in an exchange. Glad to pay minor fees for exchange to wallet transactions but leaving them in an exchange? No
They offer the easiest BTC to CAD solution out there - so thats pretty much what they are good for at this point..
It I hope you secure your funds at the end of the day
Hey, is there a possibility that wallets can lose as well?
To my understanding if the entire ecosystem (wallet provider included) run on EOS, then there are ways to secure wallet transactions as well.
great info. thx
Upvoted & followed
Thanks. Following you now.
ETH is the Windows of Crypto. BTS is the Apple of crypto. Not sure what that makes EOS though....
OS X.
Well played.
👍🏻
EOS : The new internet
wait someone lost fifteen million dollars worth of ethereum due to an ethereum bug so its just gone? it wasnt lost TO anyone its just lost now due to a bug?
yeah these things are rare butthey make crypto look bad, really not fair to crypto, its like the prodigal son
The exchange is assuming the risk as they are honoring their client accounts. That's what I learnt.
I also think that because crypto world is rather small now and everything is sent by a string of numbers, it will evolve to a more shorter but encrypted type of address.