Ethereum community does not support the idea of emergency forks

Vitalik Buterin asked the community about their attitude to emergency forks.
The vast majority of the respondents do not think it is OK.

Tanya Abrosimova Independent Analyst

Ethereum's creator Vitalik Buterin polled the community on their attitude towards hard fork aimed at rolling back the transactions in case of a massive DAO-like hack attack from a cryptocurrency wallet.

"Suppose a popular smart contract wallet that a large portion of the ETH community uses gets hacked. This could be reverted by reverting all chain activity since the hack and doing a DAO-style HF to recover the funds. How much ETH must be at stake for you to support this?" he wrote in his twitter account.

As it turned out, the community did not support the idea of a hard fork in the circumstances suggested by Buterin. Out of 15 thousand polled participants, 63% firmly opposed interventions of whatsoever nature.

Meanwhile, 16% of respondents would agree to the hard fork if they lose from 10 to 100 million ETH. 12% would rather tolerate a fork than lose over 1 million coins.

Some users tried to have a smack at him, saying that the decision would eventually depend on how much he would lose in the assumed hack. However, according to Mr. Buterin, at the time of DAO he held fewer Ethereum coins than an average network user.

"You realize my (DAO holdings / total ETH holdings) ratio was like 50x smaller than that of the average ETH community member, right? I continue to not understand people who literally think I was trying to hard-fork ethereum to save $19k," he wrote.

Notably, Ethereum developers are getting ready for a major network update know as Istanbul. It is supposed to pave the way to Ethereum 2.0 transition to a consensus algorithm, based on Proof-of-Stake.

Author

Tanya Abrosimova

Independent Analyst

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