The proposed Ethereum Soft fork to prevent the DAO hacker from moving the stolen funds has been adopted by all the major mining pools. The latest update released by the Ethereum foundation included the necessary protocol rules to essentially nullify the efforts of the mysterious DAO hacker.
After a hacking incident left The DAO’s Smart Contract dry of funds (a theft of more than 3.6 million ETH), the community and the Ethereum Foundation sought to gather support for a Soft Fork, the goal was to stop the hacker from draining the ‘bounty’ he collected (more than $50 million at the current ether price) after the 27-days grace period imposed by the DAO’s own code expired.
DwarfPool, one of the biggest Ethereum mining pools, enabled on June 22 a feature to allow miners to vote on the Soft Fork proposal. With about 22% of participation, more than 88% voted YES for the Soft Fork.
For the Fork to take place, the blocks gas limits must fall below the 4 million mark before the block #1800000 gets mined. Right now the network is ready to accept the fork as soon as the previously mentioned block is processed by the lucky miner. According to the data provided by etherchain the gas limit is well under the 4 million limit:
The story of the DAO hack is filled with drama, controversy, and debate. The attack perpetrated on July 17 was swift and brutal, an emergency security meeting of Ethereum foundation members, Exchange platforms and researchers was held to assess and control the damages of the attack. This resulted in a personal statement from Vitalik Buterin, who asked the community to support a Soft Fork to prevent the hacker from moving the funds and to give the community time to react or counterattack.
Another solution proposed by Buterin and others was a clean simple Hard Fork to disown the account holding 3.6 million ether of its coin balance, and moving the money into another secure account. This proposition was heavily criticized by crypto-anarchists and other strong opinionated members of the community.
Apple users can now download the app of The Merkle in the App Store!
If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.
