RATE Group | Crypto Community Is Seeing The Consequences Of Ethereum (ETH) And Ethereum Classic (ETH)…
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Crypto Community Is Seeing The Consequences Of Ethereum (ETH) And Ethereum Classic (ETH)…

17 Sep Crypto Community Is Seeing The Consequences Of Ethereum (ETH) And Ethereum Classic (ETH)…

Posted at 02:30h in Ethereum News by

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The-Current-Backlash-in-Ethereum-Split-Occasioned-by-The-Presence-of-Bugs-in-The-Code

A few years from now, we will look back on the 9th day of July 2018 and view it as one of the most tragic days in the history of Ethereum. This is a day that comes second to the 2016 splitting of Ethereum Classic and Ethereum. On this fateful day, a decentralized exchange known as Bancor was hacked, and this led to its investors losing more than 23.5 million dollars.

From that day, Ethereum has continued to decline steadily, despite the fact that it had risen to a high of $503 per coin on 17th July. This is an indication that investors have slowly started to lose faith in the smart contracts systems used on the blockchain. It is a fact that raises important questions such as whether the crypto is truly decentralized.

Some investors have also started questioning whether its systems are sturdy enough to protect them from bugs and hackers. Andreas Antonopoulos, a cryptocurrency guru, had a few words to say about this particular situation.

Have Smart Contracts Developers become the…

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