
Cryptocurrency Platform Ethereum Raided by Hacker, $50 Million Stolen

A hacker removed $50 million in Ether from the Decentralized Autonomous Organization, plunging investors in to a panic, many argue that no theft has occurred.
Ether, the currency that is digital has been billed as the ‘next’ bitcoin, plunged in value on Friday when a hacker exploited a software flaw in the Decentralized Autonomous Organization (DAO), delivering roughly the same as $50 million Ether into the ether and the cryptocurrency investment community into a panic.
If this seems bewildering, we’ll try to explain.
Ether is the currency supported by the Ethereum blockchain, a platform designed to provide greater flexibility for decentralized currencies that are peer-to-peer-traded tasks developed on the top of the bitcoin protocol. Ethereum permits the creation of ‘smart agreements,’ which enables a variety of business deals and perhaps not just currency transfers.
The DAO is a completely leaderless company built on the Ethereum platform and run entirely on computer code. It uses these smart agreements to create a endeavor capital fund devoted to sponsoring cryptocurrency that is new. All DAO choices are taken with a vote of its people who use electronic tokens, purchased with Ether, to register their vote. In this way, DAO had raised $162 million to help fund fledgling jobs.
Remain Calm
But DAO members watched in horror, in real-time, on as a hacker exposed a software flaw to siphon $50 million of 继续阅读“Cryptocurrency Platform Ethereum Raided by Hacker, $50 Million Stolen”