{"id":983,"date":"2016-06-20T13:08:23","date_gmt":"2016-06-20T13:08:23","guid":{"rendered":"http:\/\/blog.holytransaction.com\/?p=983"},"modified":"2018-02-07T07:43:01","modified_gmt":"2018-02-07T07:43:01","slug":"why-ethereum-dao-collapse-is-good-for","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2016\/06\/why-ethereum-dao-collapse-is-good-for.html","title":{"rendered":"Why the Ethereum DAO collapse is good for the cryptocurrency"},"content":{"rendered":"
\n

The news of the Ethereum DAO<\/b> hacker attack is riding high and of course it brings lots of damages for the ethereum investors who stored about $150m of the cryptocurrency.<\/p>\n<\/div>\n

However, it is always a good behavior to understand and see the other side of the coin, we would say.<\/div>\n
<\/div>\n
\n
In fact, any negative event can allow to have a better environment and more secure technologies.<\/div>\n
<\/div>\n
A similar thing happened with the Mt Gox<\/a> disaster, when we learned that an exchange must be built with more care and attention.<\/div>\n
<\/div>\n
As Matthew Spoke<\/b>, co-founder and CEO of blockchain startup Nuco,<\/b> explained on Coindesk<\/a>.<\/div>\n
<\/div>\n
\u201cthe DAO attack will likely be reversed, as per Vitalik\u2019s proposal; owners of TDT will be able to retrieve their ETH after the proposed hard fork; The DAO will be emptied of its investments; and future distributed autonomous organizations will learn from the lessons\u201d.<\/div>\n
\n

Ethereum DAO: what happened?<\/h3>\n<\/div>\n
On June 17th, an unknown hacker (or a group of hackers) stole $60m in Ethereum<\/a> coins from the DAO, a decentralized autonomous organization that used the Ethereum<\/a> Blockchain to leverage smart contracts and to provide a platform where people can vote and fund projects.<\/div>\n
<\/div>\n
Previously last week the DAO experienced another issue but it was fixed soon by the open-source community and the Etheruem DAO structure and problem-solving techniques.<\/div>\n

Universal Wallet<\/h3>\n
<\/a><\/div>\n
If you want to have a safe and secure wallet to store your Ethereum, you should visit HolyTransaction.\u00a0<\/a><\/div>\n
<\/div>\n
Here you can store your Ethereum, but also several other digital currencies including Bitcoin, Litecoin, Dogecoin and more.<\/div>\n<\/div>\n

Open your free digital wallet here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n","protected":false},"excerpt":{"rendered":"

The news of the Ethereum DAO hacker attack is riding high and of course it brings lots of damages for the ethereum investors who stored about $150m of the cryptocurrency. However, it is always a good behavior to understand and see the other side of the coin, we would say. 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