Programming the economy: the smart contracts that can make you lose money without knowing it

P

The Ethereum’s smart contracts are an innovation that has reached to the cryptoeconomics by the hand of the Russian programmer that created the Ethers, the young Vitalik Buterin, and that add an interesting functionality to the concept of cryptocurrency under the Blockchain that SatoshiNakamoto surprisingly inaugurated with Bitcoin.

But under the nature of the software code that is apparently innocuous and full of advantages, there are some hidden risks inherent to the developing cycle of any software, including Ethereum and their smart contracts.

Nowadays thre has been numerous cases of Ethers that had stayed “in no one’s land”, far away from their legal owners. If there is massive implantation of these contracts without fixing those problems, the manner can end up being systematic and… multimillionaire.

Add comment

By optikm

Recent Posts

Categories