March 2018
Beginner to intermediate
656 pages
20h 9m
English
Content preview from Mastering Blockchain - Second Edition
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The DAO
The DAO is one of the highest crowdfunded projects, and it started in April 2016. This was a set of smart contracts written to provide a platform for investment. Due to a bug in the code, this was hacked in June 2016, and an equivalent of 50 million dollars was siphoned out of the DAO into another account.
Even though the term hacked is used above, it was not really hacked, the smart contract simply did what it was asked to do. It was just an unintentional behavior that programmers of the DAO did not foresee. This incident resulted in a hard fork on Ethereum to recover from the attack. It should be noted that the notion of code is the law or unstoppable smart contracts should be viewed with some skepticism as the implementation of ...
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