DAO - Reading Assignment

Ethereum Smart Contract Security Course
#161
  1. 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. Split function
  3. To return lost fund
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#162

What is DAO?
A DAO is a decentralized autonomous organization, a set of contracts that function as a governance mechanism. ā€œTheā€ DAO was a VC project governed by investors created by Slock.it in 2016.

What function had the vulnerability?
The split function - it didnā€™t follow the checks-effects-interactions pattern and allowed recursive calls to retrieve funds before checking the balance.

Why was the hard fork initiated?
The hard fork option was voted on and accepted by a majority of the Ethereum community, and victims were refunded.

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#163

  1. A DAO is a Decentralised Autonomous Organisation. It is used to pool money together and fund projects after token holders have voted on proposals that should be funded.

  2. The Split function

  3. To return the stolen funds from the hack to owners, after the majority of the community wanted something to be done about the hack.

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#164
  1. A virtual organization that votes on funding projects. This is made possible by multiple smart contracts working together.
  2. splitDAO
  3. Because the soft-fork had security vulnerabilities
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#165

What is DAO?
DAO stands for decentralized autonomous organization, but in this specific article refers to the hack that occurred in 2016 to DAO by Slock.it

What function had the vulnerability?
The split function which allowed for child DAO to be created.

Why was the hard fork initiated?

Soft fork was not deemed to be appropriate due to security reasons and the community viewed that the impact of this hack was too great to let it pass.

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#166

Answers to the questions:

Question 1: What is DAO?

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

Question 2: What function had the vulnerability?

Answer:
Split function for the child DAO. Once 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.

Question 3: Why was the hard fork initiated?

Answer:
By overwriting the history and restoring the stolen ethers. This would reverse all transactions that happened after.

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#167

What is DAO?
DAO is stand from 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.

What function had the vulnerability?
The function that has vulnerability is split function.Once 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 attackers 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.

Why was the hard fork initiated?
The reason is to return all stolen fund to the investors.a

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#168

It is a first experiment of creating a DAO in the 2016

The child-DAO creationā€“>with a reintrancy attack

Because the amount of eth was too high for letting the hacker go and so all he hack victims had been refunded

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#169
  1. Distributed Autonomous Organization
  2. The split function
  3. On account of a hacker stealing
#170
  • DAO stands for Decentralized Autonomous Organizations. It is an implementation of Smart Contract which makes it possible to enforce decentralized governance.
  • Split function.
  • After it was deemed that the soft fork had security issues. The hard fork was initiated to get the ether back from the hacker.
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#171

  1. What is DAO?
    A DAO (Decentralized Autonomous Organization) is an organization which is governed using smart contracts

  2. What function had the vulnerability?
    The split function. Essentially the contract sent the funds before updating the balance, which a coder exploited by withdraw the same amount over and over again, before the smart contracts could update the balance.

  3. Why was the hard fork initiated?
    After the hack, the organization had some time to decide what to do, before the attacker could withdraw the stolen ether from the child DAO. Some said that code is law, and therefore should let it be, due to the blockchains immutabililty. But most would like to to a soft fork, before deciding that a hard fork would be best. That way, investors would get their funds back. But Ehereum was then split into Ethereum and Ethereum Classic, Ethereum Classic being the original Ethereum.

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#172
  1. What is DAO?
    DAO project created by the Slock.it
  2. What function had the vulnerability?
    Split function
  3. Why was the hard fork initiated?
    To return stolen funds
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#173

Dao - Reading Assignment

1. What is DAO?

Distributed Autonomous Organisations, 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?

A split function which retrieved the Ether first and updated the balance later. This is better known as a "recursive call exploit".

3. Why was the hardfork initiated?

Because the hack was too big to let go. So by doing the hardfork, the funds would be returned, and regulators would be kept out.

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2 Likes
#174

  1. What is DAO?
    a DAO is a Decentralized Autonomous Organisation. In the case of the DAO Hack it is the project called the DAO by Slock.it

  2. What function had the vulnerability?
    the Split function to enable objectors to a decision to get back their funds and create a child DAO with the same rules as the old one. The function didnĀ“t follow the checks effects interactions pattern

  3. Why was the hard fork initiated?
    There were three possibilities after the incident. First to just leave it as it is, or either a soft fork or hard fork to fix the problem and return the funds. First the majority decided on a soft fork but after this failed a vote on a hard fork came back in favour and therfore a hard fork was done to return the funds.

3 Likes
#175

  1. What is DAO?
    A decentralized autonomous organization

  2. What function had the vulnerability?
    The split function

  3. Why was the hard fork initiated?
    The restore the funds of those affected, regulators were kept at bay.

2 Likes
#176
  1. What is DAO?

The DAO was a decentralized autonomous organization that acted as a virtual venture capital fund. This is different other DAOs.

  1. What function had the vulnerability?

The split function.

  1. Why was the hard fork initiated?

There was disagreement over whether a fork should be initiated and ultimately the majority voted to hard fork in order to retrieve the stolen Ether and return it back to the investors.

3 Likes
#177

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

Split function

To return the lost funds

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#178
  1. What is DAO?

distributed autonomous organizations. Place where people can vote with their tokens.

  1. What function had the vulnerability?

function named split() . It should run but one of the DAO participant when they donā€™t agreed with the DAO decisions.

  1. Why was the hard fork initiated?

Because the community voted for it. Firstly community voted for the soft fork, but decision was rejected because of possible issues.

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#179
  1. distributed autonomous organizations
  2. split function
  3. to recover the stolen ether
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#180

Hi, my answers are below:

  1. What is DAO?
    DAO is a group of smart contract linked together which contains a set of rules that are transparent, immutable, it functions as a governance mechanism.

  2. What function had the vulnerability?
    Split Function

  3. Why was the hard fork initiated?
    To overwrite the history and restore the stolen ether; other solutions like soft fork or securing what was left in the DAO was not enough because the hack was too big to let go and the community should be the final decision makers.

2 Likes