As June 2016 got underway, there was a new attraction in the crypto space.
And that was DAO (Decentralized Anonymous Organization). This entity had raised about $150 million from excited investors online.
Everyone couldn’t wait to see it go live. And then the unexpected happened. On the 16th June 2016, a hacker exploited weakness on a single line of its code and siphoned out about $50 million of the funds.
Does the name Nathaniel Popper ring any bells?
He is the author of Digital Gold: Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money.
“We are not the customers of Facebook, we are the product. Facebook is selling us to advertisers.”- Douglas Rushkoff, media theorist and writer.
Most of us can’t imagine life without social media, it’s the first place we visit in the morning and the last place we report to before falling asleep. It’s fun and exciting to link with relatives, friends and strangers at a very personal level throughout the day, and it doesn’t matter what side of the world they are in. Social media has afforded us connectedness that we’ve never experienced before as human beings. Even better, the service is free (apart from the data, of course). So, what exactly is the cost?
In the beginning, there was one blockchain (the Bitcoin Blockchain). Then came a second blockchain, and another – Now there are many, and more are being created as we speak. While they all share the same basic structure, these blockchains are quite unique. One division is between the public blockchains, known as ‘permission-less’ and private blockchains, known as ‘permission-ed’.
