Ethereum Core

Ethereum core developer: Rolling back Ethereum is almost impossible and could lead to difficult-to-fix chain reactions

ChainCatcher news, according to Cointelegraph, recently, regarding the February 21 hack of Bybit exchange that resulted in a loss of $1.5 billion, Ethereum core developer Tim Beiko stated that although some in the crypto industry are calling for the Ethereum network to be restored to its state before the attack, it is almost impossible to achieve from a technical perspective.Beiko emphasized that, unlike the 2016 TheDAO hack incident, this attack did not violate Ethereum protocol rules, and a rollback would lead to widespread and difficult-to-repair chain reactions, potentially causing more destructive consequences than the hacker's losses. Furthermore, a rollback would undo all settled on-chain transactions while being unable to reverse off-chain transactions.Other industry figures have expressed similar views. Ethereum educator Anthony Sassano pointed out that the current complexity of the Ethereum ecosystem makes a simple rollback of the infrastructure unfeasible. Yuga Labs' blockchain vice president even warned that the cost of a rollback could far exceed $1.5 billion.Previous news, when asked whether he supports rolling back Ethereum to the state before the hack, Bybit CEO Ben Zhou stated, "This is not something one person can decide. Based on the spirit of blockchain, perhaps it should be decided through a community vote, but I'm not sure."

Ethereum core developer: Often doubts whether they chose the wrong industry

ChainCatcher message, Ethereum Foundation member and Geth development lead Péter Szilágyi posted on social media, "I often wonder if I chose the wrong industry.For example, SpaceX, they send rockets to Mars? Human progress. They fail to launch a rocket and it explodes? Humanity learns lessons and still progresses. All outcomes bring progress.In contrast, the crypto industry is simply a casino for fools (apologies to the few exceptions). Prices go up? Great, when to buy a sports car. Prices go down? Life is destroyed. What contribution does this make to humanity?Yes, building a new monetary system does take time. Of course... but in the process, can we do something useful? Everyone wants to be the next Vitalik, no one wants to build something useful, everyone is just thinking about how to extract value.I really don't see why this system shouldn't collapse? From a macro perspective, what will we lose? Everything the crypto industry has done so far is just a massive transfer of value, and I haven't seen any substantial value creation.Please note, getting rich through luck and then transferring funds to some non-crypto projects cannot be considered a success story for crypto. At best, it's just a lucky philanthropist's success story, more likely just a simple diversification of investments by one person.In my opinion, this industry should have started creating something truly useful that people are willing to use, otherwise it should just close its doors.At least Bitcoin tried (though it failed) to become a safe-haven asset. But the others are just selling shovels, with no signs of a gold rush at all."
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