DAO

Objective_Digit

> They're not subjective at all. You can look at the amount of capital locked in the Lightning Network and compare it to the amount of capital locked in Ethereum DeFi, and you see that Ethereum DeFi has something on the order of 1,000 times more capital locked in it. That's comparing one against many. And capital doesn't have to be locked into Lightning. It uses Bitcoin natively. The things you mention use shitcoin tokens. They made the DAO hack affect ETH by rolling back the transactions.

flying_cactus

Can you give us the rundown of why you like DAO so much and what utility it has to offer?

aminok

They're not subjective at all. You can look at the amount of capital locked in the Lightning Network and compare it to the amount of capital locked in Ethereum DeFi, and you see that Ethereum DeFi has something on the order of 1,000 times more capital locked in it. As for the DAO, it was not the programming language that was hacked. It was the code that the third-party developers used, and that in no way affects or is relevant to the security of the Ethereum protocol. And no, the Ethereum protocol is not written in Solidity. It's a level below that. It's the code that establishes how the clients work.

Objective_Digit

These are all subjective assertions. I can say just as easily that no one is using Ethereum because it's unscalable garbage. Ethereum is probably reliant on L2 than Bitcoin. And you ignored my point about Taproot stuff. That is on chain. >As for the DAO hack, that was not a protocol-level exploit. That was a third-party smart contract that got hacked, and the community at that time, which was very early on and very small, decided to reverse the hack. They used the same programming code, Solidity. The hack didn't affect ETH directly. That is, until the devs decided to rollback the txs. It certainly was not a very small thing. It was the biggest crowdfunded thing ever at the time and the hack had big repercussions on Ethereum's reputation for "unstoppable" applications.

aminok

Liquid and Rootstock are not verified by Bitcoin, and Lightning is the only L2 and it has barely any adoption because its user experience is so terrible. That proves my point, you cannot build any functionality on top of Bitcoin. The closest you get is a sidechain which is secured by trusted third parties, like Liquid or Rootstock. As for the DAO hack, that was not a protocol-level exploit. That was a third-party smart contract that got hacked, and the community at that time, which was very early on and very small, decided to reverse the hack.

Objective_Digit

> Any functionality CANNOT be built on top of Bitcoin. Yes it can - with L2 (Lightning etc.) and sidechains (Liquid, Rootstock etc.). Even on chain to a degree thanks to the Taproot update (ordinals and BRC-20). >And Ethereum being Turing Complete has not led to any protocol-level exploits after 9 years of operation. What about the DAO hack?

biba8163

> None of this matters when Bitcoin has 0 dapps Are the Ethereum dApps in the room with us? There is NOT one SINGLE dApp on Ethereum that every day people need or can use. 8 years ago, Ethereum hype was shilling about Decentralized Autonomous Organizations (DAO) replacing corporations, creating decentralized Uber, Facebook, YouTube, Twitter, etc 8 years later, there is nothing like this exists and there is no indication that this is being built or will be built. Just VCs and Foundations dumping worthless money grab tokens. The only thing that has been built is Shitcoin Casinos like AAVE where you can do leverage plays, trade shitcoin tokens, earn yield farming shitcoins tokens, provide liquidity on shitcoin tokens and call this Shitcoin Casino DeFi although there is not single gwei of Finance and all the players like AAVE, MakerDAO, LINK are completely centralized. > "Decentralized Autonomous Organization" and theres a strong possibility that DAOs replace a lot of the world's biggest corporations...et's take a company like Uber. Uber is a platform that brings people who need rides together with people who have cars. To facilitate this interaction, Uber collects 20% of every ride. With Ethereum and blockchain technology, there is nothing to prevent a bunch of software developers from writing a dApp that creates a decentralized Uber. Instead of 20% per ride, transaction fees are paid to the network and the driver takes home the lions share of the transaction..theres a strong possibility that DAOs replace a lot of the world's biggest corporations. (from 2017) https://np.reddit.com/r/ethereum/comments/7jj1so/rethereum_i_wrote_this_to_explain_ethereum_in/ > Bitcoin...destroys the environment ETH Maxi shift in narrative from *"ETH will flip BTC"* to *"Don't invest in BTC it'll destroy the environment and its future security mechanism is doomed to fail"* COPE

biba8163

> None of this matters when Bitcoin has 0 dapps Are the Ethereum dApps in the room with us? There is NOT one SINGLE dApp on Ethereum that every day people need or can use. 8 years ago, Ethereum hype was shilling about Decentralized Autonomous Organizations (DAO) replacing corporations, creating decentralized Uber, Facebook, YouTube, Twitter, etc and Coinbase CEO Brian Armstrong kept tweeting all these apps that people would use every day would be decentralized. 8 years later, there is nothing like this exists and there is no indication that this is being built or will be built. Just VCs and Foundations dumping worthless money grab tokens. The only thing that has been built is Shitcoin Casinos like AAVE where you can do leverage plays, trade shitcoin tokens, earn yield farming shitcoins tokens, provide liquidity on shitcoin tokens and call this Shitcoin Casino DeFi although there is not single gwei of Finance and all the players like AAVE, MakerDAO, LINK are completely centralized. > I think most or many user generated content apps on the web today (stack overflow, YouTube, Facebook, Reddit, quora, github etc) will all get rebuilt on the decentralized web and every upvote/like/star/follower/etc will send real money to the creator of the content (from January 2018 Coinbase CEO Brian Armstrong after shilling BAT, ZRX, etc where investors have lost most their money) https://gist.github.com/travisbrown/ef999d98e9f79c05221bebb36563e3ec > "Decentralized Autonomous Organization" and theres a strong possibility that DAOs replace a lot of the world's biggest corporations...et's take a company like Uber. Uber is a platform that brings people who need rides together with people who have cars. To facilitate this interaction, Uber collects 20% of every ride. With Ethereum and blockchain technology, there is nothing to prevent a bunch of software developers from writing a dApp that creates a decentralized Uber. Instead of 20% per ride, transaction fees are paid to the network and the driver takes home the lions share of the transaction..theres a strong possibility that DAOs replace a lot of the world's biggest corporations. (from 2017) https://np.reddit.com/r/ethereum/comments/7jj1so/rethereum_i_wrote_this_to_explain_ethereum_in/ > Bitcoin...destroys the environment ETH Maxi shift in narrative from *"ETH will flip BTC"* to *"Don't invest in BTC it'll destroy the environment and its future security mechanism is doomed to fail"* COPE

smi2ler

Yeah I definitely got that wrong on the timescale but Im not an ETH bagholder mate, I got in at the very beginning so my ETH has always been in the green. Anyway, I still believe ETH will flip BTC eventually. BTC was great years ago but its practically useless now. Its just a collection of narratives that will eventually unravel. The tech itself, whilst historically significant, is basically garbage now and not fit for purpose as a form of global settlement. Anybody who has actually used BTC recently can confirm that. I had a little look at your posts too: > False. 72 Million or 60% of ETH was premined and gifted to the Founders, Developers and VCs. Bullshit. * 60 million ETH were sold in the initial crowdsale (ICO) in mid-2014. * 12 million ETH were allocated to the Ethereum Foundation and early contributors (e.g., developers and co-founders). * That totals 72 million ETH, which were created at the genesis block (block 0), before any public mining began. And lets not forget Satoshi mined 5% of the total supply of BTC that will ever exist. If one single BTC from those wallets moves it would be a bad day for the BTC price but BTC maxis never mention that. I also remember them bleating on endlessly after the DAO hack too, conveniently forgetting that BTC had a much more significant rollback event that was not voted on by the community as was the case with ETH. As I said, BTC is mostly narratives and some of these narratives aren't even true.

igoldring

SUI’s volume is nearing that of SOL despite being 15% of its market cap so I’m not going to tell you to not buy it, rather to solely pick one of these L1s. I like AAVE because I use it, but also they have a buyback program through the DAO + nearly 20 billion in TVL. You could add HYPE for this same reason as their volume and fees generated are insane (at least 170B volume in each March and April) + (300M YTD fees). CRV because I’m bullish on stablecoin usage and I’m a fan of their infrastructure and liquidity pools for this. I do like AVAX but just confused on its placement among L1s for now. TAO has been extremely good to trade but I don’t hold any (yet). Finally CPOOL + M87 (I like their p2p platform).

Dependent-Subject528

$KENDU is more than a memecoin now, its a DAO

user_name_checks_out

The bisq project operates on a DAO which pays bounties to developers for implementing features.

CelebrationExpress37

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KPS-UK77

The only thing driving BTC is it's cult following, as far as tech goes it's rubbish compared to LTC, ETH, ADA, DASH etc... The vast majority of people buying BTC don't even really know what it is they're buying and certainly haven't a clue about blockchain, smart contracts, DAO. BTC just gets all the limelight because it's the original. As far as market cap, not sure what you mean by that, currently BTC is about $1.7tn, all those other coins have way more room to move if BTC is the guage. As far as these "old coins" being useless, firstly they're newer than BTC secondly all crypto is technically useless, none has any intrinsic value. The big investors could just as easily switch to buying up all LTC and suddenly LTC wo ld be the new BTC all it wold need is a big move to hit socal media and the tide would turn.

Armed_Muppet

Solid hall of shame for you. BitConnect OneCoin SafeMoon Squid Game Token Terra LUNA Centra Tech The DAO PlexCoin PayCoin Coinye Trump List Nem/xem

coinfeeds-bot

tldr; The Solana NFT project Meatbags aims to purchase a Cold War-era nuclear bunker in Rutland, England, by selling 100,000 Billionaire Bunker Club NFTs at $14 each to raise $1.4 million. The bunker, spanning 1.4 acres, has planning permission to be converted into a luxury home. NFT holders will form a DAO to vote on the property's use, which could range from a tourist attraction to a functional bunker. If unsuccessful, funds will be refunded. The campaign begins Monday, with NFTs purchasable via Solana Pay or credit card. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

XBioniclGamerX

If you didn't figure it out, here is how to unstake. Go to you're Binance wallet(web3), go to discover, and in DApps search for Kernel DAO, it will open and connect your wallet, and there you can find BNB and withdraw

Traditional-Fan-9315

No because there's no central DAO like with other crypto. So it doesn't work like 1 ETH = 1 vote. Over 1m Validators and 14k node operators. Lido is a platform used to help people without access to the 32ETH required for staking and itself has over 30% of the staked ETH. So even though there is a lot of ETH held by whales, it's power isn't concentrated.

HoldCtrlW

This is the future of finance. They are going to do the Web3 AI Blockchain. It is the next NFT Metaverse and they are just funding their DAO. They are reshaping the DeFi landscape with their quantum edge computing. It will be the new IoT for Big Data and Generate AI for their AR SaaS.

BBHMM_Stake_Pool

\-->Taking a snapshot of the chainstate every 5 days sounds like an awful solution. Stop calling things awful with out explaining why. Honestly, it works pretty amazing and uses minimal computing resources. Quit fudding with no evidence. I guess you like you coins trusted by a 3rd party. \--> Mike Hearn wrote a smart contracts platform for BTC called Lighthouse in 2014/15. So has it been implemented? Is it being used? Was it fully on chain like ETH and Cardano? 10 years ago and nothing. \-->You say Cardano will be a smart contracts layer for Bitcoin, well that hasn't happened for 7 years, and loads of other chains wrap millions of dollars in BTC in one way or another. Yes because it was not on the roadmap until recently. Nobody said 7 years ago this was going to be done. There are multiple entities building into this and will be completely trust-less. Yes other 3rd party bridges wrap tokens but you are trusting 3rd party entities, where a few people hold the keys, and can get away with no accountability. Did you notice how many bridge hacks there are? Do you like your funds being stolen? Do you like trusting 3rd parties? \-->Any turing complete smart contract patform can to pretty much anything in terms of token distribution, that is part of the security issues with them. No idea what you are trying to say here. \-->Predicting costs of transactions is always going to be a funcction of how much an L1 blockchain is used and how scallable it is. By defnition this is unpredictable. Well no. Cardano is based on TX size, so the cost is predictable and it is L1. Are you even listening? \-->Dash Masternodes created the first DAO and treasury with the governaance model you described precisely, created by Evan Duffield and copied by CH. Maybe inspiration from it, but not the code not. Even if it did there is not issue with copying a good idea. That is part of the reason to open source. Cardano seems to do a lot more with governance. Dash may of been first, but Cardano built it better. |**Feature**|**Cardano**|**Dash**| |:-|:-|:-| |Universal voter participation|✅ All ADA holders|❌ Only masternodes (1,000 DASH)| |Smart contract platform|✅ Yes (Plutus)|❌ No| |Grant program (Catalyst)|✅ Yes, competitive and structured|⚠️ Limited, less structured| |Formal Constitution|✅ In progress (CIP-1694)|❌ No constitution| |dReps and committees|✅ Multi-role governance actors|❌ Single-layer governance| \-->If you love Cardano, I wish you luck genuinly, I just don't see value in it. I know you don't, you like your coins trusted with 3rd party entities and like reading non trustworthy fud. Cardano is for everyone and will change the world, maybe one day you can appreciate it, but you have to open your mind up a bit and understand things better.

Leithm

Taking a snapshot of the chainstate every 5 days sounds like an awful solution Mike Hearn wrote a smart contracts platform for BTC called Lighthouse in 2014/15. You say Cardano will be a smart contrats layer for Bitcoin, well that hasn't happened for 7 years, and loads of other chians wrap millions of dollars in BTC in one way or another. Any turing complete smart contracct patform can to pretty much anything in terms of token distribution, that is part of the security issues with them. Predicting costs of transactions is always going to be a funcction of how much an L1 blockchain is used and how scallable it is. By defnition this is unpredictable. Dash Masternodes created the first DAO and treasury with the governaance model you described precisely, created by Evan Duffield and copied by CH. If you love Cardano, I wish you luck genuinly, I just don't see value in it.

etherd0t

Cope, b\*tches, Ethereum is the lion and grand-daddy of all sh\*tcoins, and has no intention to quit. ETH isn’t surviving because it’s perfect. It survives because everything else keeps tripping over its own "better tech." First-mover advantage in smart contracts= psychological anchoring😉 Liquidity gravity: so much DeFi collateral lives natively on Ethereum (loans, staking, DAO governance votes, NFT royalties, ENS names, etc.) L2s can bridge - but you still need L1 to settle things. No one's leaving the root zone. More Attack Surfaces = More Battle-Hardening - Ethereum’s multi-client setup (Geth, Nethermind, Besu, etc.) is complicated, sure - but it means bugs surface fast and get killed even faster. It's not because Ethereum is perfect. It's because it gets punched in the face more often, and learns from every fight.💪 EIP Culture = Slow but Durable Governance - People complain Ethereum governance is slow and fragmented. But that’s actually **a feature**. Ethereum doesn’t knee-jerk. It chews on problems, argues in the open, fights via EIPs, and only upgrades when there’s battle-tested consensus. Deep Developer Entrenchment (Stockholm Syndrome?) - Thousands of devs built their *entire identity* on Solidity and the EVM. It’s not just code—it’s culture, clout, and job security. and finally, Word in community is that Vitalik will soon retire (on an island without internet🤭) and then Eth can go really wild😜

nk171717

I would argue that the whole NFT phase is very similar to meme coin degen traders. They both have institutional value. However, Solana is more suited for scalability, hence lower fees and tps. Growing pains are normal. Remember the DAO hack on Ethereum, where they had to fork the network? Ethereum is the oldest and most well known, yes. But that doesn't mean it's the best. Look at Hedera Hashgraph and DLT technology. I would love the see Ethereum do well, as Buterik is Canadian!! But we will see.

imfrombiz

Various discords. MCLB DAO is my favorite

FinancialPeach4064

Here, I followed your advice and asked ChatGPT. The results are fucking hilarious, as I said: https://chatgpt.com/share/67fe6e9a-345c-8007-a1ed-1d78b4e7db7d >### **1. Cross-Border Payments & Remittances** >- **Why it matters**: Traditional international money transfers are slow and expensive. >- **Crypto’s role**: Coins like **XRP (Ripple)** and **Stellar (XLM)** enable near-instant, low-fee transfers across borders. >- **Example**: **MoneyGram** and **Western Union** have piloted crypto-based transfers to reduce costs. Ok, digital cash. So it's a Paypal competitor using a token, got it. One use case. >### **2. Inflation Protection / Store of Value** >- **Why it matters**: In countries with hyperinflation (e.g., Venezuela, Zimbabwe), fiat currency rapidly loses value. >- **Crypto’s role**: People use **Bitcoin** or **stablecoins** (like USDC or USDT) to preserve wealth. >- **Example**: Citizens in Argentina and Nigeria are turning to crypto as a hedge against inflation. This is still the same use case. You're buying and hoarding the digital cash. >### **3. Financial Inclusion** >- **Why it matters**: Billions remain unbanked or underbanked. >- **Crypto’s role**: All you need is a smartphone and internet to access decentralized financial services. >- **Example**: In sub-Saharan Africa, mobile-based crypto wallets (like **BitPesa**) are giving people access to global finance. Poor people can get collateralized loans using the digital cash. Ok, sure, second use case. >### **4. Decentralized Finance (DeFi)** >- **Why it matters**: Traditional finance is full of intermediaries and barriers. >- **Crypto’s role**: DeFi platforms (e.g., **Aave**, **Compound**, **Uniswap**) offer lending, borrowing, and trading without banks. >- **Example**: Users can earn interest on crypto or take out loans against it instantly. This is the same use case above, just the opposite end of the transaction. One is a borrower, one is a lender. Still the second use case. >### **5. NFTs & Digital Ownership** >- **Why it matters**: Proving ownership of digital art, collectibles, music, and real estate is tricky. >- **Crypto’s role**: **NFTs** on blockchains like Ethereum create verifiable ownership records. >- **Example**: Artists sell music and art directly to fans via NFTs; games like **Axie Infinity** use NFT characters. Here we go, tokenizing real world assets like Real Estate. The worst use case for an immutable blockchain ever conceived. Here's your third use case, and it's horrendous. >### **6. Micropayments** >- **Why it matters**: Credit card fees make small transactions inefficient. >- **Crypto’s role**: Coins like **Bitcoin’s Lightning Network** or **Nano** allow instant, feeless microtransactions. >- **Example**: Websites reward users with sats (tiny Bitcoin units) for watching ads or participating in surveys. This is the same as the first use case. Digital cash. >### **7. Supply Chain Tracking** >- **Why it matters**: Consumers want transparency in sourcing, and companies want traceability. >- **Crypto’s role**: Blockchains like **VeChain** are used to track goods from source to sale. >- **Example**: Food safety, anti-counterfeit drugs, and luxury goods authentication. Haha, this one hits home. I'm sitting on a -80% on my VeChain buy, back when I had the same thought as OP - what is a real world use case for this stuff, and how can I invest in that? That led me to supply chain tracking, VeChain, look at all these partnerships they've got with Walmart China and Shanghai Gas, this is the wave of the future! We've got an enormous supply chain crunch with Covid, if this stuff actually helps supply chains, this should be rapidly deployed across industries and companies worldwide. And it just... didn't. Because the use case is clumsy and offers no benefit compared to existing systems. But this is still the third use case because it's tokenizing real world assets. The real world asset is just a package being shipped. The package tracking requires a tag to put it on the blockchain that's manufactured and managed by a central authority. Yet again showing that tokenizing real world assets is an unnecessary middle man that could be done with a company managing a centralized database. >### **8. Tokenized Real Estate and Assets** >- **Why it matters**: Real estate and investments have high barriers to entry. >- **Crypto’s role**: Tokenizing assets allows fractional ownership and easier trading. >- **Example**: Platforms like **RealT** tokenize real estate, letting users invest in rental properties with crypto. Oh god, there it is again. Tokenizing real estate, same as the third use case. My favorite! >### **9. DAOs (Decentralized Autonomous Organizations)** >- **Why it matters**: Traditional organizations are hierarchical. >- **Crypto’s role**: DAOs use tokens and smart contracts to allow community governance. >- **Example**: Protocols like **MakerDAO** let token holders vote on monetary policy. Ok let's make this a fourth use case. You can buy "shares" of governance of an organization using crypto. There are loads of questions as to why this has any utility beyond a traditional company that could take money from investors to buy a copy of the constitution or an NBA team, but that's neither here nor there. Sure, fourth use case. >### **10. Identity & Authentication** >- **Why it matters**: Digital identity is fragmented and easily stolen. >- **Crypto’s role**: Blockchain-based IDs are secure, self-sovereign, and interoperable. >- **Example**: **Civic** and **Worldcoin** offer blockchain-based identity verification. Ah yes, WORLDCOIN, the bastion of use case and stability. Once again tokenizing real world assets, except this time, it's your passport available to the public instead of your home. Perrrrrfect. So overall, we have four use cases: 1. Digital Cash 2. Borrowing & Lending 3. Tokenizing real world assets 4. DAO That's it? This shit has been around for 16 years and this is all we've fucking got? Which takes me back to my original point. It has one real use case - speculative investment. LINE GO UP. Buy low, sell high, like any other speculative investment.

coinfeeds-bot

tldr; Mantra DAO’s OM token experienced a historic 95% crash, wiping out $6 billion in value within an hour, marking one of the fastest collapses in DeFi history. The drop, attributed to liquidations on centralized exchanges during low-liquidity hours, raises concerns about the DAO's financial stability and trust in DeFi. Speculation surrounds large token transfers and investor actions, with Mantra denying involvement. The crash highlights vulnerabilities in decentralized finance, echoing past collapses like Terra LUNA, and leaves the future of OM uncertain. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

mickeyhusti

I hear you on supporting athletes directly and how a traditional platform with a database and dollars could work in theory. I sponsor a few MMA fighters myself and have connections in the management world, so I’ve seen the gaps in the current system. There’s no easy way for athletes to fund training camps, supplements, or other essentials without going through managers who often take a hefty cut. A blockchain-based platform could change that by enabling fractional ownership of an athlete’s career through tokens, giving investors governance rights to vote on key decisions, like a decentralized manager. This isn’t like GoFundMe, which is limited to certain countries, requires skills like video production or legal know how, and isn’t viable for athletes in third-world countries.Picture this: you invest in 100 prospect athletes. If just one breaks through, your returns could grow significantly a diversified strategy that’s tough to pull off with a standard database. Plus, in a DAO structure, you can vote directly or delegate to a validator for convenience. Blockchain’s edge is its transparency, global reach, and ability to cut out exploitative middlemen, which a traditional platform can’t match as effectively.

mickeyhusti

You are free to join, perhaps after you see the project and the white paper I'll be able to change your mind. Would appreciate someone with 8 years DAO experience to give some feedback.

Dependent_Phone_8941

I have been involved in DAOs for 8 years. If you could point me to a successful one in that time I would happily change my mind, however I know you can’t. The concept is very interesting, I can see it working if you remove the DAO part.

Dependent_Phone_8941

I see DAOs as either a way to skirt laws, or for the founders / company to walk away with their hands clean. Like I said, it’s never been successful. Even Flamingo would have been far better if it wasn’t a DAO. What do you think the DAO brings in this case?

Dependent_Phone_8941

Anyone trying to be anything via a DAO I see as deeply unserious nowadays. A DAO has never, I repeat, never, succeeded. Just look at all the stuff coming out about the Apes DAO or Nouns that has been coming out after they audited the last few years of proposals.

Objective_Digit

>Not only can BTC be censored (because the tokens aren’t actually fungible given their complete public track record), but even discussion about BTC is heavily censored (bitcointalk.org and r/Bitcoin since 2014). It must be Ethereum you're thinking of. (The DAO, 2016). Even if Monero was alien technology, the aforementioned feeble network effect dooms it.

ripple_mcgee

If Bitcoin exploded because of the mismanagement of money, then this time around it's Ethereum's turn to rise due to the mismanagement of government. The DAO - decentralized governance. Meh, it'll never catch on, at least not in America. The average person just won't be able to comprehend it.

Big_Departure_5033

Wow, Kula’s DAO model is MIND-BLOWING! Empowering local communities and connecting investors with real-world assets.

Ribonz

I'll admit it, seeing a former prime minister on a crypto team caught me off guard. This might be the first time a DAO project has that kind of global backing.

Distinguishedferret

this is a DAO "type" or a of setting up it voting and to some degree it's usage. it has some irl use cases including court system filing and judicial transparancy

coinfeeds-bot

tldr; A user spent $10,000 to control $6.5M in voting power on Arbitrum DAO via Lobby Finance, raising concerns about decentralized governance. The voting power was used to elect Joseph Schiarizzi to a committee, sparking debates on vote-buying and governance vulnerabilities. Lobby Finance enables token holders to lease voting rights for yield, allowing buyers to influence decisions without long-term alignment. Critics call for reforms to counter manipulation, as DAOs face challenges balancing decentralized ideals with market dynamics. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Character-Dot-4078

The DAO hack was really eye opening at the time.

OhJustCallMeLuke

I bought some more, but I'm also starting to buy some altcoins like VIDT DAO, which have a really small market cap, so when they go up, they REALLY GO UP.

atdrilismydad

NFT DAO baked bean scam. We really just coming up with new word combinations huh

coinfeeds-bot

tldr; Conor McGregor's REAL token launch raised only $218,000, far below its $1 million minimum target, reflecting weak market interest. Critics have slammed the token's short 12-hour unlock window and alleged misleading marketing, calling its tokenomics flawed. The sluggish launch highlights broader mistrust in celebrity-backed memecoins following high-profile failures like Trump and Melania tokens. McGregor's partnership with Real World Gaming DAO aimed to disrupt the crypto space but has faced overwhelming negative feedback from the community. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

SquatDeadliftBench

> This is when a DAO has too much money and no clear idea of what to do with it Stake it and make more money?

nitrozing

Decentralisation of DAO’s is a legitimate concern. Your understanding of Defi and oracles though is very weak. Without Defi you are relying on centralised exchanges exclusively. Without Defi your options are to be a buyer or seller. You can never act as the market organising and profiting from swaps of buyers and sellers. The ability to organise trades and profit from the service through liquidity pools is quite literally a financial service by definition, yelling in caps doesn’t change the definition mate. I currently have access to a 2%-3% interest rate on AAVE thru my crypto investments. It is quite literally the lowest cost credit I have access to. Hell my mortgage is a massively collateralised position with a 6%-7% interest rate. Accessing cheap credit through collateralised positions is another financial service by definition which is possible right now. IDC to explain oracles to you anyway. If you can’t understand the use case of Defi which relies on oracles for timely information you’ll never realise the use of oracles. But congratulations you are smarter than both SWIFT and DTCC who are actively backing oracles and a unified golden record thru Chainlink. Stick to your guns though, I’ll stick to mine. Good luck!

biba8163

> NFTs and baked beans, some stupid shit there. The Heart of all these Scams are Ethereum narratives to try to manufacture fictional imagined use cases Ethereum **DAOs (Decentralized Autonomous Organizations)** A decentralized organization/company that is governed by its stakeholders with no chain of command or any one person in charge, everyone has a say in governance of the organization by means of direct voting power proportional to their stake in it. It is autonomous because humans are not responsible for the executive function of the organization. The smart contracts does everything automatically. Stakeholders can vote to change the behavior of the contracts or vote to bypass/change it entirely, but the smart contracts are organization. In reality, Decentralization and Governance memes and the whales control nearly everything by printing tokens for themselves and dumping on gullible retail investors. Even the most celebrated Ethereum DAOs are token dump scams. I posted this about MakerDAO 5 years ago: > One man, Rune Christensen controls the system, interest, fees, voting, etc. There are ELEVEN addresses that accounted for 98% of the voting for the protocol change for an "executive vote" used USDC. Eleven addresses control the entire protocol and a protocol change was voted in just...what 24 hrs? And most of those addresses are probably owned by a handful of people. On what planet is that decentralized? https://np.reddit.com/r/CryptoCurrency/comments/fl68d4/crypto_collateralized_stable_coins_have_proven/fkxc40i/ And people have posted the same crap about other DAOs whale controls everything like in Aragon another celebrated Ethereum DAO: > AGP42 : Put differently: aside from one whale, AGP42 passes. The Aragon community overall voted for AGP42, but it was rejected with 69% of the vote because of one whale. > AGP37: 82% in favor of AGP37. 453k to 99k. But then the whale voted. So despite 83% of addresses voting in favor of AGP37, on the surface it appears to be a large defeat where 66% vote against. > AGP-35:: Here’s another case in point: Edgeware Lockdrop Proposal for Aragon..The 792k whale voted for this. Deduct the whale’s votes and you get 338k. Which means that this proposal was losing by about 15% at ~43% versus ~57% pre-whale. Then the vote went from losing decisively to winning by a massive landslide. So aside from the whale, the Aragon community voted against Edgeware lock drop participation https://evanvanness.com/post/184616403861/aragon-vote-shows-the-perils-of-onchain-governance **DeFi (Decentralized Finance)** Defi is a bullshit scam narrative from the Summer of 2020 - Essentially a Shitcoin Casino. Leveraged plays, trading shitcoin tokens, earning yield on shitcoin tokens, providing liquidity on shitcoin tokens. NOT FINANCE - Every player like, MakerDAO, AAVE, LINK etc, is COMPLETELY CENTRALIZED - There are NO real life financial products like life, home, health insurance, mortgages, home equity loans, car loans, personal loans without massive collateral, commercial loans, etc. Again, shitcoin trading, yield farming, etc is NOT FINANCE. - Then you slap some scamified metrics like TVL based on scam tokens locked up to make gullible fools believe real capital is locked up instead of vaporware scam tokens. **Oracles** I will just present you with the words of a vaporware meme scammer with a degree in philosophy, no technical background, no background in finance, hasn't held a real job his whole life and has no real world experience in anything. But this Scammer is building magical oracles that will have Data Containers containing an Unified Golden Record will know within seconds everything that's happening Off-Chain in the Real World!!! Listen to the scammer Sergey Nazarov : > "What is the status of the real estate? Are there any tax liens? Is there any debt? Change of ownership? As the status of the real world asset changes, you should have a real world update to the on-chain token....You go from not a 1-month window of verifying an asset but to a few seconds window....The way to do that is to make a connection to what's going on in the real world and what's On-Chain by creating an Unified Golden Record"* https://np.reddit.com/r/CryptoCurrency/comments/1jlb8bb/chainlink_is_now_working_with_the_federal/mk2t3ac/

critiqueextension

The Nouns DAO's investment of $150,000 in the MOOØNBEANS project has not yielded any products, and the funds are reportedly unaccounted for, with allegations of fraudulent activity against the project's founder. This situation highlights significant concerns regarding transparency and accountability in DAO-funded projects, as the funds were allegedly transferred to a personal wallet without proper documentation. * [This DAO paid a British person $150,000 to make branded food and ...](https://cryptonews.net/news/other/30760896/) * [The Block on X: "This DAO paid a British person $150,000 to make ...](https://twitter.com/TheBlock__/status/1907789393705718124) ^(This is a bot made by [Critique AI](https://critique-labs.ai). If you want vetted information like this on all content you browse, [download our extension](https://critiquebrowser.app).)

GreedVault

This is when a DAO has too much money and no clear idea of what to do with it, leading to ideas like creating a baked bean brand and placing too much trust in an unreliable person.

_Z_-_Z_

**1. Price Manipulation Risk** * The sealed-bid auction format could lead to price manipulation since bidders can't see others' bids. * The "extra tokens" reward for bidding above clearing price creates incentives for whales to artificially inflate the price. **2. Tokenomics Concerns** * Only 3% of total supply available initially (60M of 2B tokens). * No vesting period (0 days) suggests insiders could immediately dump tokens. * Extremely high fully diluted valuation minimum of $120M for a new project. **3. Liquidity Issues** * Short unlock cliff (12 hours) after auction ends could lead to immediate sell pressure. * No clarity on how much of the raised funds will seed the Uniswap pool vs. going to the DAO treasury. **4. Auction Structure Problems** * Wide gap between minimum raise ($1.008M) and target raise ($3.6M). * Short auction duration (28 hours) could limit participation and favor insiders/whales. * No indication of how the extra tokens for higher bidders are calculated or sourced. **This structure seems designed to potentially:** 1. Create artificial FOMO with the "extra tokens" incentive. 2. Allow quick dumping by early participants with no vesting. 3. Establish an artificially high initial price that may not be sustainable. 4. Enable early participants to exit before most retail investors can evaluate the project.

coinfeeds-bot

tldr; Mixed-martial arts champion Conor McGregor has launched a memecoin called 'REAL' on April 5, featuring staking rewards and voting rights for token holders. The token was introduced via a sealed-bid auction to prevent bots and snipers from hijacking the launch. Developed in collaboration with the Real World Gaming DAO, McGregor emphasized the transparency of the project. The auction runs from April 5-6, aiming to provide a fair offering in the memecoin market, which continues to attract traders seeking quick gains. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

critiqueextension

The recent surge in Mantra Om's price can be attributed to its integration into real-world finance, with over 500 financial institutions gaining access to its blockchain, enhancing its legitimacy in institutional circles. Additionally, the upcoming SEC roundtable on tokenization and real-world assets could further bolster investor confidence, positioning Mantra as a leader in this emerging market. * [MANTRA DAO (OM) Price Prediction 2025, 2026–2030 | CoinCodex](https://coincodex.com/crypto/mantra-dao/price-prediction/) * [MANTRA (OM) Price Prediction 2025 2026 2027 - 2030 - Changelly](https://changelly.com/blog/mantra-om-price-prediction/) ^(This is a bot made by [Critique AI](https://critique-labs.ai). If you want vetted information like this on all content you browse, [download our extension](https://critiquebrowser.app).)

Specialist_Key6832

"And everyone has had years to front run all of these big players", but they aren't, a lot of people are still not technologically inclined yet. "Magic internet money" is crazy for them. And the fact that they are waiting for corporation and government to "endorse" it, means it will just go the same way the internet went, most people use google, only a few know what is a free software in opposition to a proprietary one, only a few use or knows about TOR, VPN, DAO...

sneezyiol

Vitalik awarded himself 70 percent of the float when he first created ETH. Also the ledger has been rolled back in the 2016 DAO attack, which shows that ETH is not immutable, you just need enough money to be able to change the ledger. PoW is a lot harder to 51% attack. Having been a strong ETH (and PoS) believer before, I am now completely orange pilled

absurdcriminality

Yup. I gave up on a lot of my DAO activity because it was just too much work. Unless you check in every single day it becomes impossible to keep up

Klutzy_Beyond_9206

It looks clean, but thank God someone finally thought about adding notifications to a DAO dashboard. Was that really too much to ask for?

mikedensem

Stocks are rights, not guarantees, and are very loosely based on the performance of an instrument, not a person/people. They are therefore a belief system that by its very nature is a mix of educated guessing and faith. I don’t see a lot of significant difference between stocks and crypto (although clearly there are many differences) but the one that does stand out is the ‘proof of work’. A stock doesn’t exist without a successful company behind it - the POW. A crypto token can be seeded from no POW and therefore lacks the belief component in the mix and is therefore mostly faith. Except BTC and some tokenised structures such as a DAO etc.

Guilty_Fisherman5168

People should remember what happened to MKR DAO when ETH was congested and fees were high. If you're actually using ETH you would be happy with low fees for interacting with contracts

CEO_head_bowling

What are you thoughts on wrapping BTC and getting a loan against it on Maker DAO or something similar? Isn’t that pretty much what the billionaires do? Like musk using his Tesla stock as collateral to buy Twitter?

pop-1988

There's no point in "all these". There's a great point for the two popular stables. USDT famously lost a lawsuit in which it admitted it was only 84% backed, was required by court order to have its funds audited, and still has not complied. In attempting to semi-comply, Tether made up a list of assets which covered the shortfall - loans to related entities Given this poor reputation, with years to fix the problem, and still no audit, Tether is not trusted by everybody. So it makes sense for those who don't trust Tether to use USDC instead None of the other USD-backed stables are big enough to discuss There are algorithmic stables, especially the DAO one, partly backed by meatworld assets like bonds Given that the USD is on the verge of collapse, thanks to extreme tariffs and extreme sea-freight container port taxes, it makes sense to consider than a Euro stablecoin, or an AUD stablecoin might be more **stable**

MaximumStudent1839

But something similar has happened to another PoW chain. See ETH Classic vs ETH. The big ETH holders decided to reverse the DAO hack. Now most ppl ignore the original chain, ETH Classic, and use the altered chain, ETH - not exactly a fork but something similar.

drakgikss

If you are in to gaming and think the market has space for play and earn games look into PDT or ParagonsDAO is at huge discount now. The treasury of the DAO x Coin price evaluation is at least 50% of what it should be if you take into account how much money the treasury has. Let me know if you want help geting to it

uncapchad

From CoinGecko # Where can you buy Cookie DAO? COOKIE tokens can be traded on centralized crypto exchanges. The most popular exchange to buy and trade Cookie DAO is [Binance](https://www.coingecko.com/en/exchanges/binance), where the most active trading pair COOKIE/USDT has a trading volume of $16,953,771 in the last 24 hours. Other popular options include [Gate.io](https://www.coingecko.com/en/exchanges/gate-io) and [OrangeX](https://www.coingecko.com/en/exchanges/orangex).

ThinNeighborhood2276

This approach sounds promising for enhancing DAO engagement and utility. Projects like Aragon and Colony have explored similar concepts, focusing on decentralized collaboration and contribution-based governance. It would be interesting to see how your model compares and evolves.

MinimalGravitas

**Simona Pop** Simona is a DAO governance and public good thought-leader and advocate; a key contributor to Gitcoin (the biggest public goods funding platform in the ecosystem) and the organizer of Schelling Point (probably the biggest 'regen' conference). She was also a co-founder of 'Bounties Network', a platform similar(ish) to 'Fiver' for Web3.0 where freelancers can be paid for doing everything from finding a bug in some code, translating documentation t another language or even planting a tree... she's one of the many people in Ethereum community working hard to realize a vision of a better future, by building it. * https://gov.gitcoin.co/u/pop/activity/topics * https://schellingpoint.gitcoin.co/info * DAOs and Biomimicry [DevCon 6]: https://www.youtube.com/watch?v=V0I5dkkpJ9o

MinimalGravitas

**Taylor Monahan** If you were around in Ethereum before 'The DAO' or joined any time up to the first ICO mania then you are pretty likely to remember Taylor, even if you didn't know her name. She was one of the founders of the first easy to use Ethereum wallet (My Ether Wallet), before which we had to wait to sync the chain before making transactions (was that Parity, Myst, ?, I don't remember). This was an absolute game changer and allowed many more people to start accessing Ethereum... just in time for them to faced with a barrage of new 'Initial Coin Offerings', investments with varying degrees of legitimacy. As well as being partially responsible for enabling the chaos that ensued, Taylor also took it upon herself to try and call out scams and terrible investment 'opportunities' that newbies were falling for. If you look her up on Twitter you'll see that she still is still doing this, though now working for the ecosystem's current main wallet Metamask. * How to Avoid Crypto Scams: https://www.youtube.com/watch?v=EiYYQCs49VM * The Original Sin [DevCon 6]: https://www.youtube.com/watch?v=7OnxjlA-RKA

MinimalGravitas

**Jinglan Wang** Jinglan is a Co-Founder and the Chief Executive Officer of Optimism, currently the second biggest Ethereum L2, recently in the news for a partnership with Coinbase over the Optimism Stack, and pioneers in retroactive public goods funding, DAO governance, and a series of massive airdrops to L2 users/Gitcoin donors/DAO participants etc. Disclaimer, I'm a delegate to Optimism and a Citizen's House badgeholder, so I won't go on about how great the project is as I'm definitely a biased source. * https://www.youtube.com/watch?v=O8ycNV0lF5M She is also a founder and advisor to the Blockchain Education Network, one of the biggest outreach programs in crypto, helping schools, clubs etc around the world teach people about this new technology. * https://www.blockchainedu.org/

MinimalGravitas

**Frederika Ernst** Dr Ernst is a host of Epicentre, one of the most well researched and non-shilly crypto podcasts. Their guests are industry leading builders and thinkers, but the hosts always push back on any unsubstantiated claims and demand further explanation of anything that sounds unlikely or overly optimistic. They have always done their research and the questions asked demonstrate a level of understanding that makes it almost impossible for the listener to come away without learning from every episode. You should be a listener if you want a general crypto podcast that never seems like the guests are just being allowed to hype up their projects. * https://epicenter.tv/hosts/friederike-ernst/ She is also the COO of Gnosis, the scaling solution formerly known as xDAI, that POAPs (Proof of Attendance Protocol) run on. POAPs are collectable badges that have become an integral part of the Ethereum ecosystem, if you watch a big event live (like The Merge) then you can usually get a POAP, if you participate in a DAO governance call then you can usually get a POAP, if you go to an Ethereum conference then you will probably end up with a walletful of POAPs! Gnosis is also home to plenty of other dApps, a nicely decentralized staking community and all the usual sort of things a sidechain would want. * Gnosis Chain: Extending Ethereum [ETHCC 5]: https://www.youtube.com/watch?v=LYVOE3P08eU

MinimalGravitas

It depends what you mean by 'multi-coin'? I use 'Frame' [https://frame.sh/], which works with all the networks I use (ETH, OP, Base, Gnosis, Polygon, Arbitrum), but that won't help you if you want non-EVM chains. It's fully open source, works on Linux, Mac and Windows desktop, supports ENS, lets me connect to my local nodes for Ethereum and Optimism, etc etc. It has a semi-separate browser extension (for Firefox or Chromium based browsers) that lets you connect to dApps to do DeFi shenanigans; sign in DAO voting; use multisigs etc, but as it doesn't sound like you don't want to actually use crypto beyond buying and holding then you don't need to install it.

coinfeeds-bot

tldr; Bybit is requesting ParaSwap DAO to return $100,000 in fees earned from token swaps linked to a $1.4 billion hack by North Korean hackers, the Lazarus Group. The swaps were part of laundering stolen funds. While some ParaSwap DAO members support returning the fees as a moral decision, others argue it could harm the protocol's decentralization and set a precedent. The DAO is debating the issue, weighing legal, ethical, and community implications, with no formal vote date set yet. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; Arbitrum is a layer 2 blockchain designed to enhance Ethereum's scalability by using optimistic rollups, which execute transactions off-chain to reduce congestion and costs. Its native token, ARB, launched in March 2023, allows holders to participate in governance through a DAO. Developed by Offchain Labs, Arbitrum supports Ethereum-based dApps and has seen significant adoption, surpassing Ethereum in daily transactions in early 2023. It aims to provide faster, cheaper, and scalable solutions for Web3 applications while maintaining security and compatibility with Ethereum. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Crypto-4-Freedom

Yeah, i really love Gnosis chain. Also whats a great project on Gnosis, is Gnosis Pay. Silo is in my opinion a really promising lending protocol. 1 of the safest lending protocol out there, because all loan markets are in seperate "silos" so if 1 market gets exploited all others are safe from it. If aave for example gets an exploit all funds are fuckd. The Silo token you can vote in the DAO, we just had a 4 month revenue share paid out in ETH, next month they are going to open a staking pool for the token on Sonic, with a lock up of 6 months. And the plan is in june they are gonna start the revenue share again, but this first have to go through the DAO. The market cap of Silo is still pretty low around 50 mil, and all tokens are in circulation. I got the feeling we will still see a big increase in price the next couple of months

glitter_my_dongle

There hasn't been any new innovation that gets forked to oblivion. That is what drove the last bull run. Olympus DAO and all its forks is what drove itje second half of the Eth bull run. NFTs were the other.

KontoOficjalneMR

No. All you need is code changeand _voila_ they are back. Same way as a small code change un-hacked The DAO.

Rent_South

Not at all. The 2010 Bitcoin inflation bug was a consensus fix for an invalid transaction that violated Bitcoin’s rules. It was not a reversal of legitimate transactions, nor was it done for financial reasons. Ethereum’s DAO rollback was entirely different. It was a bailout for insiders, reversing transactions that were legally valid according to the protocol at the time. That set a precedent that Ethereum's history can be rewritten if enough powerful voices agree. One was a critical bug fix, the other was a governance decision that undermined immutability. That is the key difference, and it is why Bitcoin remains fundamentally different from Ethereum.

Rent_South

Ethereum Foundation may not ‘officially’ dictate the roadmap, but its influence is undeniable. Core devs and insiders drive major upgrades, and the network follows their lead, unlike Bitcoin, where no single entity holds that power. And no, it was not just ‘two transactions’ reversed. The DAO rollback set the precedent that Ethereum’s ledger can be changed if insiders decide it should be. That is governance by human discretion, not immutable code. That kind of intervention is impossible on Bitcoin.

Rent_South

Blockstream cough? That is one of the weakest arguments out there. Blockstream does not control Bitcoin. They are a development company contributing to the open-source protocol, just like dozens of other independent teams. If they disappeared tomorrow, Bitcoin would continue running without issue. Bitcoin mining is competitive, not centralized. Yes, large miners exist, but so do smaller miners, and anyone can participate. Mining is permissionless, and hashrate follows energy efficiency, not corporate control. If a miner tries to censor transactions or attack the network, the economic incentives make it financially suicidal. That is not centralization, that is a competitive market at work. Lumping Ethereum with SOL and XRP in terms of centralization is not lazy, it is accurate. Ethereum has a foundation that dictates its roadmap, has reversed transactions in the past, and has governance controlled by a small group of developers and insiders. Proof-of-stake makes this even worse, as wealth concentration leads to more influence over the protocol itself. Bitcoin does not have this problem. Calling Bitcoin 'premined' is just wrong. The code was released publicly, and anyone could mine from day one. No special allocation was given to insiders, no pre-sale, no VC funding. Satoshi mined under the same rules as everyone else. If you want to call that a pre-mine, then every proof-of-work system is a pre-mine by your definition. And no, Bitcoin never had a rollback. You are probably referring to the 2010 inflation bug when a soft fork was rapidly agreed upon by the network to remove an invalid transaction that exploited a bug. This was not a rollback in the sense of reversing transactions arbitrarily—it was a fix to prevent an exploit that would have broken Bitcoin’s supply rules. That is completely different from what Ethereum did with the DAO rollback, where transactions were reversed purely for financial reasons. Bitcoin remains the only truly decentralized, neutral, and censorship-resistant monetary asset. Every attempt to paint it as 'just another crypto' ignores how it fundamentally differs from everything else.

yoobermcruber

I'll name you 4 smart contract game changers. ##⒈ Re-entrancy attacks A re-entrancy Attack is an example of Improper Enforcement of Behavioral Workflow. One of the features of Еthereum smart contracts is the ability to call and utilize the code of other external contracts. Contracts in many cases send еther to various external user addresses. The operation of calling external contracts, or sending еther to an address, requires the contract to submit an external call. Cybercriminals steal those external calls and force the contract to execute and call back to itself (using a fallback function). The execution of the code “re-enters” the contract. An attacker can carefully construct a contract at an external address that contains malicious code in the fallback function. Such contracts make a recursive call back to the original function in an attempt to drain funds. When the contract fails to update its state before sending funds, the attacker can continuously call the withdraw function to drain the contract funds. So, the name "re-entrancy" comes from the fact that the external malicious contract calls back a function on the vulnerable contract and "re-enters" code execution at an arbitrary location on the vulnerable contract. Examples; In June 2016, the DAO smart contract was exploited via a re-entrancy attack and 3.6 million ЕTH (worth $50 million at the time) were stolen using the first re-entrancy attack. Some people close to Vitalik lost a lot of ЕTH when this attack happened but luckily for them Vitalik and the Еthereum Foundation decided to rollback the blockchain. [In April 2020, the dForce DeFi protocol was exploited via a re-entrancy attack and $25 million dollars worth of tokens were stolen.](https://chainbulletin.com/dforce-refunds-users-after-25-million-hack) [In December 2021, the Grim Finance DeFi project was exploited via a reentrancy attack and $30 million worth of tokens were stolen.](https://www.halborn.com/blog/post/explained-the-grim-finance-hack-december-2021) ##⒉ Default Visibilities Default Visibility is an example of Improper Adherence to Coding Standards. Functions in Solidity have visibility specifiers which dictate how they are allowed to be called. The visibility determines whеther a function can be called externally by users, by other derived contracts, only internally or only externally. The default visibility for functions is [public]. Therefore, functions that do not specify any visibility can be callable by external users. Default Visibility becomes a problem when developers ignore visibility specifiers on functions that should be private (or only callable within the contract itself). It is good practice to specify the visibility of all functions in a contract, even if they are designed to be public. A noticeable example of the effect of this issue was the Parity MultiSig Wallet hack when about $31M worth of Еther was stolen from primarily three wallets. The wallet smart contracts had two functions that were accidentally left [public], so an attacker could call these functions, changing the ownership to the attacker’s address. After becoming the owner, the attacker was able to drain the wallets of all their ЕTHs (≈$31M). Summing up, incorrect use of visibility specifiers can lead to critical vulnerabilities in all smart contracts. ##⒊ Arithmetic Over / Under Flows The fixed-size data types for integers are specified by the Еthereum Virtual Machine (EVM). What it means is that it can represent only a certain range of numbers. Without taking the proper measures the variables can be utilized in case if user input is unchecked which is the reason why numbers can be outside the range of data type they are stored at. It usually happens during an operation requiring a fixed-size variable to store a piece of data or a number surpassing the variable’s data type range. Such smart contract vulnerabilities are utilized by cybercriminals in order to misuse the code and benefit from the process. Example: Adding numbers that exceed the data type range is called Overflow. As soon as the uint (unsigned integer) reaches its maximum size, the next element added will overflow. For example, for uint8, the maximum number is 255, and if you add 1 more to it, then the variable will be overflowed and will equal 0 (if added 2, then the variable would be 1). ##⒋ Entropy Illusion Every transaction on the Еthereum blockchain has a global impact on the entire Еthereum ecosystem in a calculable way. Basically, it means that any randomness or entropy is impossible inside the blockchain ecosystem. Therefore, ‘rand()’ function is absent in Solidity, and achieving decentralized entropy is a problem many experts address. Some programmers are trying to write their own “random” functions, but as they are not well familiar with the ecosystem of the ЕTH – they mess up; as a result, vulnerabilities appear.

critiqueextension

The DAO project was launched in 2016 as a revolutionary venture capital fund on the Ethereum blockchain but faced a significant hack that resulted in the theft of approximately $60 million worth of ether. This incident led to a hard fork of the Ethereum blockchain, creating two distinct versions: Ethereum and Ethereum Classic, and fundamentally shaped the future of blockchain governance and funding models in the cryptocurrency space. * [What Was the DAO Hack? - Gemini](https://www.gemini.com/cryptopedia/the-dao-hack-makerdao) * [2016 - How The DAO Hack Changed Ethereum and Crypto](https://www.coindesk.com/consensus-magazine/2023/05/09/coindesk-turns-10-how-the-dao-hack-changed-ethereum-and-crypto) * [A $50 Million Hack Just Showed That the DAO Was All Too ...](https://www.wired.com/2016/06/50-million-hack-just-showed-dao-human/) ^(This is a bot made by [Critique AI](https://critique-labs.ai). If you want vetted information like this on all content you browse, [download our extension](https://critiquebrowser.app).)

ec265

It would be a good way to demonstrate your skills without any direct experience, yes. Documenting why you made certain decisions and when. And yes, that’s exactly it. You can volunteer your time to assist in treasury operations at a small DAO, which could eventually lead to a salaried role but at the very least is relevant experience and looks good on the CV.

PantyDoppler

BTC - Decentralized store of value DIP - decentralized insurance protocol, AAVE - decentralized banking LSS - hack mitigation system VXV - decentralized ai science data matrix DAO - ICO platform ALU - programmable NFT's Thats my bags, not saying they'll come out as winners, but they try to solve some sort of a problem as opposed to memecoins. Ive learned over the past 5 years that 99% of crypto is pointless, even good projects with a real world use case can die due to token inflation or selfish team. If you want to be sure your money doesnt just flow to someone elses pocket then your best bet is buying BTC, everything else could just be an attempt to make people rotate from BTC to other useless cryptos.

dads_joke

Instead of creating an actual legal framework for crypto, DeFi, DAO, blockchains, Trump overtook all the independent regulators including SEC. SEC stopped investing crypto at all and thus: 1. Nobody knows what is good and bad. 2. Next admin might change anything.

ImpossibleCoffee91

you know what, you are right. Vitalik Buterin has your best interest and I think that you should invest all your life savings into ETH, because it's the best asset for smart people like you. not only did it fork because of DAO hack, but it also later on changed from PoW to PoS, and you are probably one of those people that think it's a good thing. but hey, it's your money and you can do what you want with it

ImpossibleCoffee91

ETH had a hardfork in the past because of DAO hack, because vitalik wanted to bail out himself and his buddies. will be interesting to see if we see yet another hard fork with ETH. most likely not if vitalik himself didn't lose anything on this

Atyzzze

I'm tired of arguing, luckily, I can let AI do it for me! So, I've put both my post and your reply into my LLM and asked for a reply, so that I only have to *review* (and edits, like specifically changing wording around rollbacks, as there never was any. And just straight out cutting some chunks of its reply since it's just going off what *you* put into it) its words instead of having to go through all the effort of debunking your words mySelf. So, here it goes: ### **Bitcoin’s Fair Distribution?** You're half right—early adopters mined BTC with laughably low difficulty, but the key factor was **openness**. Anyone could mine Bitcoin from day one. No VC allocation, no premine, no early investor discount rounds. Compare that to almost every new chain, where insiders buy up massive chunks before retail even gets a sniff. If you want to call Bitcoin “unfair,” then what do we call the **blatantly rigged tokenomics** of most modern projects? ### **Ethereum’s Pre-mine?** Yes, Ethereum had a pre-mine. But **pre-mine ≠ scam** when done transparently. Unlike most new projects today, Ethereum’s crowdsale was **open to anyone**, not just backroom VCs. The result? The most actively developed, decentralized smart contract ecosystem in existence. ### **Ethereum’s Gas Fees & Lido’s Centralization** - **High gas fees?** A function of demand, not a flaw. Ethereum **L2s exist to fix this**—yes, they feel duct-taped now, but they’re improving fast. Meanwhile, other L1s aren’t “solving” fees—they’re just subsidizing them temporarily. - **Lido’s dominance?** Yeah, I’ll admit, it’s a problem. But Ethereum’s roadmap (Danksharding, withdrawals) **explicitly addresses this**. Other chains? They just pretend centralization isn’t happening. ### **“Actual Utility” in XRP?** XRP? The same XRP that’s been "the future of banking" for **a decade**, yet still hasn’t replaced Swift? Banks might *test* XRP, but they’re not **committing** to it en masse. Meanwhile, JPMorgan and global institutions are actually **building on Ethereum (Onyx, Quorum, etc.).** ### **Ethereum’s DAO hack & Infura Reliance** - **DAO hack?** You act like this was a normal event. It was an extreme, one-time **community-driven decision** to prevent a single bad actor from exploiting an early flaw. The split into Ethereum Classic proves it wasn’t unilateral. And there was no rollback, see EIP-779 for *what was* done. - **Infura?** Yeah, centralized infra providers suck—but that’s an **ecosystem problem, not a protocol problem**. Other chains rely on centralized RPCs, too. Difference? Ethereum is actively working on decentralizing infra (EigenLayer, peer-to-peer relays, etc.). ### **Developers Leaving Ethereum?** Where are they “going”? Solana? That’s cute—good luck with the outages. Aptos, Sui? VC chains that retail barely touches. BSC? A Binance-controlled playground. The real builders aren’t “leaving,” they’re **building on L2s** where Ethereum’s security still underpins their projects. ### **Flip Phones vs. Smartphones?** Ethereum isn’t the flip phone—**it’s the operating system**. These new “smartphone” chains? They’re feature-phones. Flashy, sure, but still disposable in the long run. Look, I’m not saying Ethereum is perfect—but compared to the “competition,” it’s **the only game still standing that respects decentralization**. You can chase every new shiny blockchain all you want, but in the end, most of them will be footnotes in history. Ethereum isn't scared of competition.

Hidden5G

Ethereum neutral? Bitcoin fairly distributed? That’s a nice narrative, but let’s deal in facts. Bitcoin’s so called fair distribution was anything but…early adopters mined thousands of coins practically for free before it had any real market. Ethereum? Pre-mined and heavily allocated to insiders. Neither are the untouchable, pure systems you’re making them out to be. Bitcoin has become a meme coin just ask Coinbase’s CEO. It’s unusable for anything beyond speculation, with fees that make it laughably impractical. Ethereum, for all its supposed neutrality, is plagued by high gas fees, centralization concerns with Lido controlling a massive chunk of staking, and layer 2s that are basically separate ecosystems duct taped onto it. Meanwhile, actual utility is being built elsewhere. The largest financial institutions, including Bank of America, have already stated they’re ready to use XRP once the SEC nonsense is settled. The Federal Reserve has cleared banks to use crypto, and legacy institutions aren’t waiting around for Bitcoin’s “store of value” fantasy or Ethereum’s never ending roadmap delays. You talk about decentralization but ignore Ethereum’s history of rolling back transactions (DAO hack, anyone?), its reliance on Infura, and its slow march toward being another walled garden for insiders. And let’s be real…Ethereum maxis mock new projects because they’re terrified of competition. If Ethereum were truly the best, why do so many devs leave for chains with better efficiency, lower fees, and actual scalability? Why? Explain. You want to pretend Bitcoin and Ethereum are the only legitimate blockchains? Fine. But don’t mistake that for reality because the rest of the world is already moving on. Doubling down on old flip phone tech and the world has moved onto smartphones isn’t a wise future move.

CiaranCarroll

Bitcoin is what any company stock would be if it were unconstrained by government and contract law, such as employee and service contracts. If Google or Facebook could make their stock the world reserve currency they would, but they can't because they are constrained by government. Bitcoin is unconstrained, with all of the properties of a very good security + the potential upside of it becoming the world reserve currency, whether nation states like it or not. The arguments in favour of regulated securities (e.g. company stocks) don't hold water, such as revealed customer and consumer preferences and dividend buy-backs, because these are just proxies value that undergird the theses of investors. In other words, they are the reasons that many investors give for their decisions, they are not the the fundamental or intrinsic reasons that stocks are valuable. If investors migrate to a new thesis then the beneficiary of the new thesis is the new reason. In fact, a dominant thesis can be completely wrong in principle, and right in practice, even for a long time, although the probability of this is low. And the emerging thesis of value is that systems must be built on proof of work in order to resist entropy, and Bitcoin is the best at that by far. Our existing institutions, including fiat currencies but also corporations, are succumbing to entropy and become zombies and decaying, basically rotting from the inside. Unlike our existing institutions Bitcoin is the original DAO (decentralised autonomous organisation), and any new protocol trying to compete with Bitcoin has to be substantially better and competitive at the same time, but in practice can only be one or the other because Bitcoin is so well designed and has first mover advantage. There may be slightly better protocols in the wild, with slightly better starting parameters or cleaner code or whatever, but all of the sales pitches required to make competitor protocols market competitive make them unsustainable due to sub-optimal trade offs, like giving athletes steroids. E.g. faster transaction speeds and volumes increases centralisation, etc... Back to nation states and their fiat tokens, multi-polarity\* makes the position of USD as world reserve currency and the exorbitant privilege it provides is increasingly unsustainable and unwelcome, especially amongst commodity based economies like Russia and Brazil. So in the value hierarchy it goes like this: 1. Bitcoin 2. Commodities (in general) 3. Sovereign fiat 4. Non-sovereign fiat 5. Regulated stocks / securities (in general) 6. Unregulated securities (e.g. cryptocurrencies) \* *many new sovereign civilisations emerging as peer competitors, including the Russian Federation, China, India, and maybe Europe, South America (lead by Brazil), and some parts of the Middle East and Africa*

MinimalGravitas

No, there hasn't been a rollback on Ethereum. The DAO hack resolution wasn't a rollback, as far as I know Bitcoin is the only major chain that has had a rollback.

HSuke

No. The fix for the DAO Hack wasn't a rollback. That was a 2-account state change that didn't revert any other transactions. All it did was change the balance on 2 accounts because the stolen funds were already locked up and couldn't be moved. A multi-day reorg/rollback would've never been accepted by the community because it would've caused way too much chaos. A rollback/reorg is what happened when Bitcoin reorged in 2010 and 2013 to fix 2 bugs. Ethereum can't pull that off since it's no longer using PoW and now has permanent finality after 12 minutes.

HSuke

Ethereum can't roll this back like Bitcoin did in 2010 and 2013. It's no longer using Proof of Work. Hard forking back to the previous state would be absolutely catastrophic, and it's never been done before on Ethereum. The 2016 DAO Hack hard fork wasn't a rollback. That fork didn't change anything except for the state of the 2 affected accounts. No transactions were reverted. If it needed a multi-day rollback, the community wouldn't have agreed to it.

HSuke

Because it's technically impossible to roll back without a hard fork. You could roll back on Bitcoin, but Ethereum is no longer using Proof of Work like before. Also this time, it's user error. There is no bug. The stolen funds have already been distributed across the network. There is no easy fix, and the Layer 0 community consensus is that no one wants to fork the network. So it'll be similar to the Parity wallet hack in 2018 where the community decided not to fork. The 2016 DAO hack was a unique situation where it was an application bug, not an Ethereum protocol bug. The app's failsafe kicked in and the stolen funds were locked, giving the community time to decide whether to hard fork the network. The community forked because they could do so without doing any damage. Unlike in the 2010 and 2013 Bitcoin rollbacks, no reorg was needed.

xmronadaily

You should look up how ETH classic came into existence... In 2016, a major hack of a smart contract on Ethereum, known as The DAO, led to the theft of 3.6 million ETH. This event caused a significant debate within the Ethereum community about how to address the hack. Some members of the community supported rolling back the blockchain to negate the effects of the hack, while others opposed it. The decision to revert the blockchain to recover the stolen funds resulted in a hard fork, leading to the creation of Ethereum Classic (ETC).24 Those who disagreed with the decision to revert the blockchain continued on the original chain, which became Ethereum Classic, while other users upgraded to the new version of Ethereum. Ethereum Classic maintains the original, unaltered history of the Ethereum network, adhering to the principle that "code is law," meaning the rules and regulations of the decentralized network are enforced solely through its underlying code. Wouldn't be the first time ETH was rolled back... Muh immutability.

officialraylong

Ethereum already pulled this shit back when The DAO was hacked. Ethereum Classic is arguably more principled.

Bagmasterflash

Remember the DAO hack?

DonasAskan

Ethereum was rolled back after DAO hack, you might not been here when this happened. New one became ETH (rolled back blockchain) and the old one remained ETC.

Busy-Chemistry7747

The DAO 🤣

flyfree256

It's actually a perfect example of decentralization. Developers and users had (and still have) the freedom to choose whatever they want -- participate in the network that addressed the DAO hack or don't.

BTC-1M

Because they are implying they just rolled back the blockchain. The truth is they made a brand new blockchain, and on that brand new chain these funds (which already couldn’t be moved for a temporary period of time due to the nature of the DAO contract) were moved back to the original owners. The result was both ETH and ETH Classic. All ETH holders received new coins (like BTC holders did with BCH) and most people agreed to start using the new chain.

BTC-1M

Funds were temporarily frozen in DAO hack, so it could be done. These funds have already moved. I’d still argue the legacy of ETH and ETH Classic is/was a questionable look for decentralization.

namtaru_x

Ethereum has never been rolled back. After the DAO hack it had its state altered, but it did not affect other transactions that took place during that time.

MaMu_1701

Another example btw is in games: If a provider ends the lifetime of a game, the gamers are mostly powerless. The EU actually tries to takle this [source](https://citizens-initiative.europa.eu/initiatives/details/2024/000007_en) Imagine games are DAO's in the future to solve this...

PirateSKB

Yeah, well, they did it with the Dao Hack eons ago, that's why there's Ethereum (the fork we all know and love) and Ethereum Classic (Ethereum original with the DAO Hack included) Even Bitcoin is a fork and the original chain is long dead, so the 2 biggest coins in this space are just forks of themselves lol

Hitchie_Rawtin

It's splitting hairs because words have meaning. Bitcoin value overflow incident > transactions were rolled back. DAO hack > no transactions were rolled back, new transactions were created which siphoned funds from a crippled attacker account. No prior blocks or transactions were removed, the hacker was attacked. You can hope and wish that words have different meanings, but they stay the same.