The Ethereum community seems to be embracing a soft fork implemented to the networks open blockchain. Most pools look to be voting in favor of the proposed soft fork that will eliminate the recent DAO attackers chances of using the funds.
So far according to Etherchain.org pools who have implemented the soft fork include DwarfPool (1264GH/S), Ethermine (448GH/S), bw.com (229GH/S), Nanopool (203GH/S), miningpoolhub (96GH/S). Five other pools are unconfirmed at the time of this writing such as f2pool (668GH/Z), ethpool (309GH/Z), Coinotron (272GH/S), bitclubpool (227GH/S), and Coinmine.pl (80GH/S). The soft fork has been somewhat controversial as it is a targeted fork aimed to fix the current DAO debacle. The concept is explained here in the Slock.it blog which states:
“The idea is that all transactions that would result in a value transfer from any DAO would be deemed invalid and not accepted by miners. The targeted part is due to two exceptions: The most important one being the Curator multisig and the other being a siphoning contract. It’s the same contract that was used in the white hat actions. The exception of the siphoning contract is not needed, but it does not hurt to have it as a safety precaution and to require less ETH for Dark DAO recovery actions.”
Ethpool voting seems to have conceded with a majority favoring the soft fork. The Geth DAO Wars soft fork release is available for view on Github. The addition defines the fork and what it aims to do with the DAO situation. Miners can choose not to update and operate the way they normally do but if the majority votes in favor of the update the Github request states, “non-updating miners will either fork off their own Ethereum network, diverging from the majority, or will forfeit any blocks they mined (since it’s not accepted by the majority, overruling the minority blocks).”
The subreddit r/ethereum and many forums across social media are filled with threads concerning the soft fork. Everything is available for the community to view which includes voting statistics, what block height the fork will be implemented on, debate with positive and negative arguments, and information on how to participate.
In the trading markets, Ethereum has been holding steady at roughly $13.50-14 USD per Ether according to coinmarketcap.com. The capitalization has held at above a billion dollar market when earlier last week it had dipped well below the billion range. DAO tokens have also been staying relatively stable resting at 10 cents a piece for several days now. It seems both communities are confident that this situation will resolve in due time.
Many eyes are focused on the soft fork implementation and will be watching as it progresses. Live Bitcoin News will be on top of keeping our readers informed of the next steps.
Sources: r/ethereum, Ethchain.org, coinmarketcap.com, Ethpool, Github, Slock.it blog
Images: Crypto-graphics.com, r/ethereum screenshot June 26, 2016
Leave a Reply
You must be logged in to post a comment.
The purely legal issues are interesting.
Could the hacker sue Ethereum as the soft fork is violating the contract since DAO said the code is the contract? There is an opportunity here for legal precedence. We should convene a panel of lawyers and Judges and conduct a simple mock trial. I would think the hacker wrote code that dis not alter the system but exploited a weakness in the contract. Seems like there is strong legal precedence for the exploitation of a contract.
sue ethereum why?. the miners have taken the desicion , they cant sue global miners . ethereum devs didnt soft fork the miners yes . its dao problem not ethereum. ethereum is like apartament building and dao is one room.
The contract wasn’t written to siphon off funds that didn’t belong to the the child DAO. It was an exploit.