This contract, with this much money, needed NASA levels of QA.
I cannot think of many code projects that have a higher value-per-line-of-code than this contract.
Sadly, it appears that not only was there not the needed QA but the leaders of this project were alerted to the exact problem in code 5 days ago and they responded by declaring that there was no risk.
The actual problem + the response makes this feel like amateur hour.
Now everyone involved understands why things that exist in 'old finance' like contracts and IPOs are scrutinized by large, expensive auditors.
Exactly. DAO should have tested the shit out of their "contracts" before starting accepting people's money. Now DAO and Ethereum as result won't have any trust.
> This contract, with this much money, needed NASA levels of QA.
Well, if the fork plan goes through I'd say you're wrong because it could clearly be rolled back when there was a problem. You cannot easily do that with a space shuttle.
I cannot think of many code projects that have a higher value-per-line-of-code than this contract.
Sadly, it appears that not only was there not the needed QA but the leaders of this project were alerted to the exact problem in code 5 days ago and they responded by declaring that there was no risk.
The actual problem + the response makes this feel like amateur hour.
Now everyone involved understands why things that exist in 'old finance' like contracts and IPOs are scrutinized by large, expensive auditors.