- Users can invest money into the fund, which is then tracked by the internal ledger, the Ethereum blockchain.
- The events have put the fundamental promises of the blockchain system into question.
- There are mounting calls for a “hard fork” in the Ethereum code, especially from the creators of this DAO, Slock.it.
- When investments turn a profit, users can decide on whether to distribute the money as a reward in the form of ether, or put the money back into the central fund.
- A DAO is a bit like a crowdsourced investment fund that is governed by code.
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@motherboard: “Ethereum might betray the blockchain to recover from a $56M hack”
The ‘world computer’ just suffered its first massive hack.
Ethereum Might Betray the Blockchain to Recover From a $56M Hack