Bitcoin

The safety program to limit the risk on MakerDAO has been rejected

January 7, 2020 by Xavier

After having detected a flaw in the ecosystem MakerDAO, the executive committee of the platform proposed a solution to secure funds via a program time delay of the executions of the contract of governance. This being the case, the proposal seems to be rejected by the community.

No change expected

Micah Zoltu, the software engineer who discovered the flaw MakerDAO had announced in December that a big risk of piracy hovered around tokens Dai before proposing a solution that would avoid this risk of theft of tokens.
In this case, the latter explained that the mechanism for securing the platform could slow down the hacking activities with an execution period extended to 24 hours.
In this perspective, the leaders of MakerDAO have decided to call the community to vote in this sense, however, the proposal appears to have been snob me because of the timing (holiday season), and gaps in information.

New votes expected

In the Face of this failure, Mariano Conti, the director of contracts intelligent in MakerDAO said that new votes could take place, if the problem is not resolved quickly.
Until then, no internal measurement has not been taken to eliminate the risk of piracy in spite of the threats of some users to quit the platform.
On the other hand, Conti explained that the inefficiency of the vote is not inherent to MakerDAO before continuing that this does not prevent to organize other solicitations to the public.
Finally, Micah Zoltu recommended measures to avoid exposure to the risks of piracy.
What do you think of the current situation of MakerDAO ? Give your opinion in the comments section.
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About the author

Jeremiah Faber

Jeremiah Faber

Jeremiah is an explorer by heart – both in the physical and the digital realm. A traveler, Jeremiah continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Jeremiah and through his business acumen has gained financial profits as well as fame in his business niche.