The Ethereum Improvement Proposal - EIP 867 - 101 how not to do blockchain
I found EIP 867 today but it had been created over 2 weeks ago, 3 authors Dan Phifer , James Levy, Reuben Youngblom created a improvment proposal for the ethereum network that should help in recovery of lost founds. Recently due to bug in the Parity multi sig wallet a lot of founds has been lost (e.g Polkadot lost over 90 millions of dollars), anyway it is programmers responsibility to know the code they work with and it is not network responsibility to take care of their mistake.
Reverse the irreversible
Main idea behind this EIP is to reverse transactions in the affected blocks, main idea behind the blockchain is to make transactions irreversible, this approach forces users to be more cautious in action, more thoroughly checking their code on programmers and there is nothing wrong with it. I hope that EIP will never be accepted and implemented because it would seriously harm the level of trust in the network.
Totally agree!
The DAO fork already hurt Ethereum's reputation and created a very bad precedent, that's why some think this can be done again. But I don't think second time community may forgive it.
If they do exceptions every time someone loses big money, no one will trust Ethereum blockchain anymore. I like Etherum Classic's slogan "Code is law"!
Thanks for good and for keeping up to date :)
Honestly, as an EOS investor, this is great news - if this goes through Ethereum will crash like crazy.
Stay strong my ETH friends.
Good post.