Tushar Jain of Multicoin Capital discusses how hackers seemingly obtained $40 million value of Bitcoin in a hack on Binance, how the main crypto alternate might have incentivized miners to reorganize the blocks, and what the likelihood says concerning the sport idea of Bitcoin. We speak about why Binance finally determined towards attempting to go this route, and whether or not or not exchanges ought to, sooner or later, attempt to use reorgs instantly after alternate hacks so as to each undo the hack in addition to deter future hackers. Plus, we focus on how this concept would have differed from the Ethereum exhausting fork after the DAO and whether or not or not this implies that quick finality is preferable to probabilistic finality.
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CipherTrace: http://ciphertrace.com/unconfirmed
Episode hyperlinks:
Tushar Jain: https://twitter.com/tusharjain_?lang=en
Multicoin Capital: https://multicoin.capital
Binance’s announcement concerning the hack: https://binance.zendesk.com/hc/en-us/articles/360028031711
Bitcoin core contributor Jeremy Rubin’s suggestion to try the reorg: https://twitter.com/JeremyRubin/standing/1125919526485254144
CZ’s Periscope AMA after the hack: https://twitter.com/binance/standing/1125959459782553600
CZ’s resolution to not do the reorg: https://twitter.com/cz_binance/standing/1125996194734399488
CZ tweeting concerning the controversy that resulted: https://twitter.com/cz_binance/standing/1126088279261007875?s=20
Jeremy’s assertion after the controversy over his suggestion of a reorg: https://twitter.com/JeremyRubin/standing/1126391126619971585?s=20
