The DAO Hack: The Story of Ethereum Classic

This is the story of one of the largest digital heists ever and the bold attempt to rewrite Ethereum history so that it never even happened.

0:00 Intro
2:03 Enter, the DAO
5:05 Lonely, so Lonely
7:16 The Race to Empty
10:05 Endgame
11:12 The Fork
15:27 Ethereum Classic
17:26 Conclusion

The DAO, short for Decentralized Autonomous Organization, was an ambitious DeFi project that was hacked for a sum of $55,000,000. This attack exposed the early fragility of smart-contract security, in a world where code dictates everything. It left the Ethereum community devastated as they scrambled to try to regain control of the blockchain. In the end, they decided that they weren’t going to let the hacker win. They wanted to rewrite history so that every transaction involved in the hack was undone, and everyone would get their money back. They chose to fork Ethereum, a decisive split that created Ethereum Classic.

Despite these initial setbacks, DAOs have only become more popular, and the Genesis DAO taught us some valuable lessons that led to the creation of even better DAOs.

Script/Sources/Music: https://docs.google.com/document/d/10-EEL9ogEwfm5KjLyl0pt1DufY4-9MVf5CHVxmMb4N8/edit?usp=sharing

Discord: https://discord.gg/hC2bkbAM3T

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- junion.eth

Видео The DAO Hack: The Story of Ethereum Classic канала Junion