Why The DAO Hack Is a Good Thing for Ethereum

Rage Comment : The DAO vulnerability may be a good thing for Ethereum, just as the largest Bitcoin exchange Mt Gox collapsed, and subsequent exchanges also learned lessons from it, strengthened supervision, and built Bitcoin platforms more carefully. The DAO hacking incident can allow future distributed anonymous organizations to learn lessons from it and study the vulnerabilities of digital technology, while making the Ethereum platform more secure and reliable.

Translation: Nicole

Last Friday brought a hurricane of events to the world of Ethereum investors and those working with it.

It’s understandable that the DAO hack has raised questions and concerns about the future of Ethereum. But is there really any need to worry? Of course, this is a project that has invested tens of millions of dollars in the digital currency Ether, and there is no doubt that this hack will make headlines, most of which are negative.

I think this event can be seen as a good case study for the anti-fragility of new digital technologies, which can make Ethereum more secure and reliable.

Nassim Taleb

As popularized by renowned author Nassim Taleb, the concept of antifragility can be summed up in simple terms in his book, “Antifragile”: Resilience to shocks keeps things the same; antifragile gets better.

There have been some comparisons made about whether The DAO will be the “Mt Gox of Ethereum.” I don’t disagree with that idea. If we can learn from the Mt Gox disaster, as it has, exchanges that have followed it will be more careful about how they build their platforms, and there will be more regulation — these are all good things.

While I don’t expect my predictions to carry much weight, I want to express my thoughts: The DAO attack could be reversed to the time before the attack, as Vitalik proposed; TDT (token holders) would get their ether back after a hard fork; The DAO would liquidate all investments; and future DAOs would learn from this incident.

Ethereum will become more powerful.