DAO - Reading Assignment

Ethereum Smart Contract Security Course
#181
  1. Distributed anutonomous organizations, another computer code through which a set of smart contracts are connected together and function as governance mechanism
  2. split function
  3. To overwrite the history and restore the stolen ethers
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#182

  1. DAO is a decentralized autonomous organization that aimed to be a virtual venture capital fund governed by the investors.

  2. The split function that was designed to give or refund ether to the minority members of a approved project.

3.to return funds stolen from investors that was the best options a security concerns made a soft fork less reliable.

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#183
1

Distributed autonomous organization another computer code through which a set of smart contracts are connected together and function as a governance mechanism

2

the split function had the vulnerability

3

Because majority of the ethereum community voted for the hard fork in the end to return the funds to the token holders that got hacked

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#184

  1. What is DAO?
    A DAO is an organization implemented through a is set of smart contracts that act as a governance mechanism.

  2. What function had the vulnerability?
    The split function

  3. Why was the hard fork initiated?
    The hard fork was only initiated after the first option, a soft fork, was rejected due to additional security concerns. Instead of doing nothing, a hard fork was implemented.

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#185
  1. DAO stands for Decentralised Autonomous Organisation which is a digital organisation with no central entity of control. Instead, it is controlled by its members through governances/security tokens which allows them to govern the organisation and receive forms of payments from the organisations operations.

The DAO was the first Decentralised Autonomous Organisation of a large scale which was sadly hacked shortly after its creation. After the hack the ethereum chain split into two. The Ethereum we know today and ethereum classic.

  1. The split function. It first allowed people who did not agree with the majority of votes to have the option to opt - out and create their own chain if they would like to. The split function was written in such a way that it returned the money to the people first and then updated the balance. Just like we saw with Filip, the interaction was first and then the effect.

  2. Because some members of the community did not agree with the rollback.

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#186

  1. DAO or decentralized autonomous organization is a collection of smart contracts, which together function as a governance mechanism.

  2. The split function which created a child DAO and enabled minority to withdraw their funds if they disagreed with the majority (appraisal right).

  3. The hack was to big to just leave it as it happened, so community was deciding to do a soft fork, which would freeze stolen funds, but because of additional security flaws didn’t happened. Most of the community supported the hard fork to overwrite the history and return stolen ETH.

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#187
  1. What is DAO?
    DAO stands for distributed autonomous organization, which is a collection of smart contracts that connect to each other & act as a governance mechanism.
  2. What function had the vulnerability?
    The split function.
  3. Why was the hard fork initiated?
    The community felt that the hack was too big of a deal to do nothing (after the soft-fork was taken up unsuccessfully) and the victims got their funds back.
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#188
  1. A DAO is a “virtual company” where the shareholders are just the people owning the tokens of the network, they have voting power and can propose new projects and take decisions (using the rule of majority)
  2. The split function, instead of making the balance 0, then sending it to the child DAO it did the opposite, which was exploitable and enabled the attackers to withdraw (possibly) all the funds from the DAO
  3. to give people their money back, which caused a big argument on the real immutability of the network
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#189

  1. A DAO stands for decentralized autonomous organization and it is where token holders have the right to both introduce vote on proposals.

  2. The split function was vulnerable.

  3. A portion of the community believed that the users needed to get there funds back although it involved rolling back the blockchain. The other side (including the hacker) believed that the principle of immutability needed to be preserved. This caused Ethereum to split in two.

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#190
  1. DAO means “Decentralised Autonomous Organization” , a decentralised organization where everyone can vote and participate in the decisions.
  2. The refund function usede to create a child DAO.
  3. Because there wasnt many time lefft and the first proposal(soft fork) had security flaws.
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#191

  1. What is DAO?
    DAO is a decentralized autonomous organization. It is a company or organization that is run through code rather than by a group of people.

  2. What function had the vulnerability?
    The function that had the vulnerability was the “split” function. This function allowed members to split their investment into two parts, one going to the project they originally invested in and the other going to a new project. It allows minority groups to reclaim their funds when majority groups’ proposal they disagree with gets approved.

  3. Why was the hard fork initiated?
    The hard fork was initiated to refund the investors who lost money in the DAO hack. The hard fork allowed the creation of a new blockchain that reversed the transactions from the DAO hack.
    The soft fork was originally scheduled. However, it was discarded because of additional security flaws.

2 Likes
#192

Decentralized Autonomous Organization. it’s an entity led by community members with no central authority. It’s transparent and autonomous. Smart contracts lay the foundational rules, execute the agreed upon decisions.

the split function .

First, the community approved the soft fork but there were security flaws and it was discarded. So, hard fork was the other option.

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#193

1 - A DAO (decentralized autonomous organization) is an organization managed under certain rules coded in a smart contract. “The DAO” was a DAO that launched in 2016 and allowed for a split when a minority of shareholders decided to create their own DAO.
2 - The function that transferred the Ether was suceptible to reentrancy attacks.
3 - The hard fork reversed the hack, allowing everyone to recover their funds.

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#194
  1. A DAO is a decentralized Autonomous Organization and in the case of this article was the specific DAO started by slock.IT.
  2. The split function to create a child DAO and transfer funds from the parent DAO had the vulnerability.
  3. The hard fork was initiated in order to return funds back to the original investors and also because there were still a community of miners that wanted to persist with Ethereum classic.
1 Like
#195

  1. What is DAO?
    DAO are smart contracts brought distributed autonomous organizations. A DAO is another computer code through which a set of smart contracts are connected together and function as a governance mechanism.

  2. What function had the vulnerability?
    The split function.

  3. Why was the hard fork initiated?
    Exercising a hard fork on the Ethereum blockchain to overwrite the history and restore the stolen ethers. This reversed all the transactions which occurred after the starting point of the work.

#196
  1. What is DAO?
    DAO is a decentralized autonomous organization.
  2. What function had the vulnerability?
    The function that had the vulnerability was the “split” function. This function allowed members to split their investment into two parts, one going to the project they originally invested in and the other going to a new project. It allows minority groups to reclaim their funds when majority groups’ proposal they disagree with gets approved.
  3. Why was the hard fork initiated?
    The hard fork was initiated to refund the investors who lost money in the DAO hack. The hard fork allowed the creation of a new blockchain that reversed the transactions from the DAO hack.
    The soft fork was originally scheduled. However, it was discarded because of additional security flaws.
#197

  1. What is DAO?
    Decentralized Autonomous Organization.

  2. What function had the vulnerability?
    The vulnerability was in a smart contract code function called the “splitDAO()” function. The vulnerability allowed the hacker to call the function multiple times prior to completion of the transaction.

  3. Why was the hard fork initiated?
    The hard fork was initiated to reclaim the stolen funds and return them to investors. It also resulted in the split in Ethereum to Ethereum and Ethereum Classic.

#198
  1. What is DAO?

A DAO is another computer code through which a set of smart contracts are connected together and function as a governance mechanism.

  1. What function had the vulnerability?

nce a split function is called, the code was written in a way to retrieve the Ether first and update the balance later. Additionally, it was not checking whether there was a recursive call, which is an expression used to indicate a function that calls himself. The attacker(s) managed to recursively call the split function and retrieved their funds multiple times before getting to the step where the code would check the balance.

  1. Why was the hard fork initiated?

Additional security flaw was found during soft forking

#199

  1. A DAO, or Decentralized Autonomous Organization, is a computer code through which a set of smart contracts are connected together and function as a governance mechanism. DAOs can be thought of as virtual organizations where decisions are made through smart contracts and token holders have voting rights on proposals.

  2. The vulnerability was in the “split” function, which allowed an attacker to recursively call it and retrieve their funds multiple times before the balance was checked.

  3. The hard fork was initiated after debating several options: doing nothing, implementing a soft fork, or a hard fork. The soft fork was initially accepted but later discarded due to security concerns. The hard fork was then proposed to reverse the hack, return stolen funds to investors, maintain community control, and keep regulators out. It was voted on and accepted by the majority, leading to the creation of Ethereum Classic as the old chain continued.

#200

What is DAO?

A DAO (Decentralized Autonomous Organization) is a code through which a set of smart contracts are connected together and function as a governance mechanism.
A Decentralized Autonomous Organization (DAO) is a community-led entity managed by rules encoded as a transparent computer program, with voting and finances handled through a blockchain .[^1]
DAOs are member-owned communities without centralized leadership, and decisions are made from the bottom-up, governed by a community organized around a specific set of rules enforced on a blockchain [^2]

What function had the vulnerability?

Split function

Why was the hard fork initiated?

Some offered to refund the investors’ lost while the others didin’t accept as a reason that the ethereum’s immutability rule will be broken, then the network decided to get hardfork in order to roll back to the state of the funds weren’t sent yet.

[^1]: Wikipedia: Decentralized autonomous organization
[^2]: Consensys: What Is A DAO And How Do They Work?