The DAO is Dead, Devs Say. But Can Anyone Decide its Fate?
Jared Sperli stashed this in security
Stashed in: Bitcoin
the DAO is great idea... too much too soon tho.
Maybe next time it will do better.
The first large-scale experiment with a leaderless distributed autonomous organization (DAO) is winding down, according to at least one prominent member of the decentralized project.
Following at attack earlier today that resulted in the siphoning of over $60m worth of ether from The DAO into a new DAO set up by an unknown individual or entity, the company that wrote the original code is now saying the "experiment" is over.
But, it remains unclear if anyone in a leaderless organization, one meant to be driven by the votes of tens of thousands of stakeholders, actually has the authority or ability to end the organization.
In conversation with CoinDesk, the co-founder of Slock.it, which had previously been working to fix the bugs in the DAO’s open-source code, said the roughly $150m in funds are in the process of being moved to a separate account designed specifically to help bring the operation to a close.