On a Rocky DAO
Raising $150m+ through its toke sale, ‘The DAO’ has become the most notable decentralized application to date. The ambitious goal of the project is to form an decentralized organizations that efficiently makes investment decisions and generates a return for the token holders.
Computer Science professor Emin Gün Sirer and researcher Vlad Zamfir joined us to discuss the various security issues with the daring project and why they’ve called for a temporary moratorium on funding proposals.
Topics discussed in the episode
- How the DAO works
- What the role of the curators is
- What splits are and how they became a way to withdraw funds
- Why the DAO has a bias towards approving proposals
- How attackers could ‘stalk’ token holders when withdrawing their funds
- How the DAO can be upgraded