Thursday, June 4, 2020

The Ethereum Classic Attack

I’ve been thinking of a few quotes I’ve seen recently after the Ethereum Classic 51% hack that was reported on January 6:
“There's no roadmap for it. Nobody is held accountable for security problems with it.”
"Are its users lemmings collectively jumping off of the cliff of reliable, well-engineered commercial software?"
“It’s a solution waiting for a problem.”
“It’s splintered. It has different distributions. It’s too complex to run for most people.”
“It’s only free if your time has no value.”
“You would not get a high grade for such a design”
“It’ll never reach mainstream adoption.”

Of course, these quotes – some of them from well-known tech leaders – are about Linux. And you thought they were about blockchain, right? Gotcha! You see, it its early days, Linux was seen as a strange little curiosity – or threat – that could really impact your career. Back in the day, recommending it could have meant a halt to your career.

I’ve noticed that with this latest Ethereum Classic hack, a lot of the same things said about Linux are often said about blockchain. Some folks are saying it even more often, given the fairly dire news about Ethereum Classic and the ramifications for other cryptocurrencies. This event has caused quite a stir, as is often the case when an emerging technology gets humbled.
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