The DAO Hard Fork, and the Negotiation that Couldn’t Happen
the·@cooper10510·
0.000 HBDThe DAO Hard Fork, and the Negotiation that Couldn’t Happen
<html> <p> <img src="https://scontent.fbkk5-5.fna.fbcdn.net/v/t34.0-12/13819301_1732251067055215_762260215_n.png?oh=eaa2c1c14183bc1f1da4087ebc6d465f&oe=5791FA0D" width="508" height="263"/></p> <p><br></p> <p><br></p> <p>I want it to be clear that I am not speaking on the behalf of the Ethereum Foundation. The point of this post is not to address the handling of the DAO fork, but to share why <strong>I believe the hard fork is the right choice</strong>.</p> <h3>Why we should reverse the DAO heist</h3> <p><strong>The Ethereum community should reverse</strong> <a href="http://motherboard.vice.com/read/the-biggest-hacker-whodunnit-of-the-summer?utm_source=mbtwitter"><strong>the DAO heist</strong></a>, and return the ether invested to the DAO token holders (and the <a href="https://github.com/slockit/DAO/wiki/Understanding-the-DAO-accounting">extraBalance</a> to the DAO token purchasers) in order <strong>to mitigate negative externalities of the DAO heist</strong>.</p> <blockquote><em>“an</em> <em><strong>externality</strong></em> <em>is the cost or benefit that affects a party who did not choose to incur that cost or benefit.” — </em><a href="https://en.wikipedia.org/wiki/Externality"><em>Wikipedia</em></a></blockquote> <p><strong>I am thinking, for example, about externalities arising from</strong> <a href="https://medium.com/@Vlad_Zamfir/highlights"><strong>legal and regulatory</strong></a> <a href="https://medium.com/@el33th4x0r/i-am-a-big-believer-in-a-clean-hard-fork-5186a7f27b38#.wsd0fqn16"><strong>precedents</strong></a><strong>.</strong></p> <h3>Why a hard fork is the only reasonable way to reverse the heist</h3> <h4>The soft fork failed, and the counterattack is not very promising</h4> <p>A <a href="https://blog.ethereum.org/2016/06/24/dao-wars-youre-voice-soft-fork-dilemma/">soft fork</a> that censors DAO attackers was attempted, but it was discovered to have a <a href="http://hackingdistributed.com/2016/07/05/eth-is-more-resilient-to-censorship/">fundamental</a> <a href="https://blog.ethereum.org/2016/06/28/security-alert-dos-vulnerability-in-the-soft-fork/">DoS</a> <a href="http://hackingdistributed.com/2016/06/28/ethereum-soft-fork-dos-vector/">vulnerability</a> before it was triggered.Without a soft fork, the <a href="https://blog.slock.it/a-dao-counter-attack-613548408dd7#.fm22mch2v">counterattack effort</a> is <a href="https://blog.slock.it/white-hat-siphoning-has-occurred-what-now-f7ba2f8d20ef#.h98bvadjo">not <strong>at all</strong> guaranteed to succeed</a>.</p> <h4>The complication of negotiation</h4> <p>Negotiating is the optimal solution, <em>if it leads to nearly all of the funds being returned</em>. A counterattack that potentially leads to <a href="https://twitter.com/isislovecruft/status/744630179931185152">the funds moving back and forth forever</a> could let us negotiate for the return of <em>only</em> s<em>ome</em> of the funds. Without a fork, therefore, we are not in a good place to negotiate with the attacker. Given that the soft fork has failed, only the credible possibility of a hard fork can put us in a strong position.Negotiating with the attacker(s?) is complicated somewhat by <a href="https://www.reddit.com/r/ethereum/comments/4p9z93/it_seems_attacker_just_targeted_the_whitehatdaos/">multiple </a><a href="https://www.reddit.com/r/ethereum/comments/4p7mhc/update_on_the_white_hat_attack/">other</a><a href="https://www.reddit.com/r/ethereum/comments/4smn2s/the_attacker_makes_a_move_did_moving_the/">attacks</a>, which possibly are conducted by different attackers. While at least some of them <a href="https://www.reddit.com/r/ethereum/comments/4pij7r/communique_from_the_white_hat_dao_joiner/">may</a> be willing to negotiate, any negotiation that leads to the return of funds will take at <a href="https://daowiki.atlassian.net/wiki/display/DAO/How+to+split+the+DAO%3A+Step-by-Step">a long time</a>.</p> <h4><br></h4> <h3><br></h3> <p><br></p> <p>Refer : <a href="https://medium.com/@Vlad_Zamfir/the-dao-hard-fork-and-the-negotiation-that-couldnt-happen-bdd2aedefe84#.o2bfitgye">https://medium.com/@Vlad_Zamfir/the-dao-hard-fork-and-the-negotiation-that-couldnt-happen-bdd2aedefe84#.o2bfitgye</a></p> </html>
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