With no third party, who carries out lending on-chain?
This is how I understand it: “Code is law” also means that if a contract has vulnerabilities, others can exploit them by following the code—and there’s no way to reverse it afterward.
In 2016, The DAO project was attacked due to a code vulnerability. Ethereum subsequently underwent a hard fork, and the original chain that did not follow the fork continued as Ethereum Classic (ETC).
My current habit: before interacting with a newly launched contract, I test it with a small amount of funds. I don’t invest a large sum right from the start.
Calling contracts on Ethereum requires $ETH to pay for gas. Current price: 2426.52.
This is how I understand it: “Code is law” also means that if a contract has vulnerabilities, others can exploit them by following the code—and there’s no way to reverse it afterward.
In 2016, The DAO project was attacked due to a code vulnerability. Ethereum subsequently underwent a hard fork, and the original chain that did not follow the fork continued as Ethereum Classic (ETC).
My current habit: before interacting with a newly launched contract, I test it with a small amount of funds. I don’t invest a large sum right from the start.
Calling contracts on Ethereum requires $ETH to pay for gas. Current price: 2426.52.