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The DAO Hack - A $55 million heist that split Ethereum in two with AVSA
Manage episode 313261587 series 3264500
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The DAO was one of the first and most ambitious projects launched on Ethereum. Imagine a fully decentralized fund where tokenholders could invest in exciting new ventures together. It was supposed to be an unhackable pile of money. $250 million worth of Ether, about 16% of the available Ether supply was locked in the DAO. It was the biggest crowdfunding event in history. Then the DAO was hacked. Suddenly every single cent and even the survival of Ethereum was at risk.
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Manage episode 313261587 series 3264500
Content provided by Jonas. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Jonas or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
The DAO was one of the first and most ambitious projects launched on Ethereum. Imagine a fully decentralized fund where tokenholders could invest in exciting new ventures together. It was supposed to be an unhackable pile of money. $250 million worth of Ether, about 16% of the available Ether supply was locked in the DAO. It was the biggest crowdfunding event in history. Then the DAO was hacked. Suddenly every single cent and even the survival of Ethereum was at risk.
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