Bitcoin Forum

Hello,

Sorry if this question has been already answered, but I was not able to find an answer using "Search".

What are the technical details of ETH (DAO) attack?

Was it a bug in DAO code, ETH or something else?

Is it possible to make similar attack on ETH in the future?

Could ETH be considered a reliable coin?

Thank you!

Look here: http://cointelegraph.com/category/business/ethereum

http://www.coindesk.com/understanding-dao-hack-journalists/
 

It was a DAO issue.  Not a hack though.

"recursive call attack"
"weakness in underlying language "solidity""

google (better than listening to bagholder-talk)

also check out "call for dao moratorium" to see how they did ignore expert opinion because of greed.
The exact attack was pointed out to them and they did ... nothing .. well, they said it was fixed but that wasn't true. Now it blew up in their face exactly like experts predicted. It's a joke for the investors.

Some say it's because of 'touring complete' and it will be very hard (if not impossible) to code secure contracts on that platform. Yes, buggy contracts can even after numerous fixes and upcoming hardforks still be expected. No, the contracts aren't secure for all i know. And also not soon. It's by no means a 'realiable coin'.

Academics said: "there is so many attack vectors they cancel each other out."

I don't think it'll be any good anytime soon. Wait 5 years and look at contracts like this again. Currently it turned out to be useless. Decades of dvelopement ahead. Overvaluing like this was pure madness and rampant speculation with no brains involved.

Thanks to all replies!

Do I understand correctly, that other ETH projects are "buggy" for the same reason as DAO, and it's better to avoid any project based on "contracts"?

Hardfork will not change the situation, will it?

I'd suggest to not catch the falling knife. Watch from a distance and see what's left when the dust settles. 'Smart contracts' not ready for primetime. It's aparently very hard to code a secure contract on eth. They said something like 70% of all exisitng ones would be vulnerable and that's just the vectors they know.
Don't believe a word though. Make your own research in the topics because people in the forum are full of shit and many will lie to you to make you buy or sell or are just misinformed themselves.
Crypto can sometimes fall 99%, so be aware of potential downside risk even when it would come down 90% it could still have 90% further to go.
Currently it's very expensive.

Hardforks should be many expected said Vlad Zamfir - so it's actually officially a shitcoin with no relevance, at least in my book.

If i wanted in i'd patiently wait the dumps out. This could dump for months on end now. Likely dumps for 2 or 3 weeks at least, maybe much longer.  Some people expect sub 1$

Make sure to do due dillegence and draw your own conclusions. Nobody of us has a crystal ball.
Personally i think the contract-hype is over for now, maybe i'm wrong but i'd be surprised if i was.

Balu,

Appreciate your advice, it's exactly what I'm trying to do - make my own research, as much as I can.

At least will hold on while ETH future will become more clear. Will be very skeptic regarding contracts.