5

So the DAO was hacked due to a vulnerability in the way they wrote their smart contract https://blog.ethereum.org/2016/06/17/critical-update-re-dao-vulnerability/

The Ethereum plan is to fork the chain to specifically prevent the attacker from being able to withdraw from the DAO account.

So what is the DAO's connection with Ethereum, and what is its purpose? Why is the operation of the DAO so cruical to warrent a fork? I also see mentions of a company called Slock.it being involved somehow, what was their role in this ordeal?

k kurokawa
  • 2,072
  • 15
  • 28

1 Answers1

5
  • So what is the DAO's connection with Ethereum, and what is its purpose?

The DAO was a decentralized autonomous organization designed to invest in DAPPs built on Ethereum

  • Why is the operation of the DAO so crucical to warrant a fork?

Whether a hard fork is warranted is being hotly debated. Ultimately miners will have to make that decision. "Too big to fail" and the sheer amount of money invested in the DAO are some of the most cited reasons by those trying to justify a fork

pro fork:

https://blog.colony.io/an-ethereum-hard-fork-is-not-a-bailout-its-foiling-a-bank-robbery-db2a472fe9e1#.x7rn8026i

anti fork:

https://www.reddit.com/r/ethereum/comments/4oithy/a_too_big_to_fail_political_hard_fork_is_very/

  • I also see mentions of a company called Slock.it being involved somehow, what was their role in this ordeal?

Slock.it designed the code theDAO is built on and was likely to be one the largest recipients of theDAO investment

John
  • 271
  • 1
  • 6