Researchers: Last Year’s ICOs Had Five Security Vulnerabilities on Average • Hacker News Board

Post by darawk » Thu, Jun 28, 2018, 6:35 AM UTC

bkor wrote: post #34

darawk wrote: post #21

Earlier quoted context omitted.

Absolutely not. The state of blockchain development is shit. My point isn't that it's being done well. My point is that, in theory, it can be done well, and I believe that it can get there, and I think the end goal is worthwhile.

> My point is that, in theory, it can be done well, and I believe that it can get there, You really mean that eventually smart contracts can be reliable, no bugs, etc? I've seen procurement sign contracts with various unclear wordings in them. I've seen vendors wrongly apply contracts in their rates. It's quite common to have errors in real world contracts. I fail to see how a smart contract would work especially as…

Smart contracts will not replace complex traditional contracts. They will replace simple ones, especially at first. There will be issues at first, for sure. Over time people will iterate on them and there will be a library of well vetted, well understood, standardized contracts.

Also of note, smart contract does not necessarily mean no human intervention. A smart contract can appeal to an external and possibly human judge/arbitrator.