Coinbase Co-Founder Fred Ehrsam Openly Opposes Ethereum Fork

Due to a code vulnerability, DAO was hacked and millions of ethers were stolen. Recently, the digital currency exchange Coinbase also participated in the discussion of the DAO crisis.

Coinbase co-founder Fred Ehrsam said that he believes that Ethereum developers should not arbitrarily change the blockchain platform code due to the DAO crisis, and that it is not advisable to recover funds by changing the protocol. As early as May, Coinbase GDAX exchange had already launched Ethereum, and Ehrsam also publicly expressed his confidence in Ethereum and Ethereum.

Ehrsam said in his speech that Ethereum is still a relatively young platform, so the development team should view The DAO incident as an opportunity for lessons and self-reflection.

We must learn to admit our mistakes. I believe that in the future, some smart contracts may also have loopholes. We can't fork every time to avoid mistakes.

Despite the rumors surrounding Ethereum in recent days, Ehrsam said he remains confident in the growth of the Ethereum community and the value of Ether.

This incident proves that it is difficult to write absolutely secure smart contracts.

The Ethereum community is discussing what methods to take to protect the funds of DAO participants.

There are already emergency plans for hard forks and soft forks. A soft fork would mean modifying the Ethereum protocol to invalidate transactions on the DAO contract.

A hard fork means changing the original transaction from invalid to valid. However, if the development team really takes back the ether in this way, it is likely to go against the original intention of DAO and Ethereum as a decentralized network.