In the early days of etherium, about ten % of all etherium got invested in a decentralized, autonomous organization. And this was supposed to be basically a a voting base mutual fund. But when you transfer money, it can be transferred to another smart contract. So somebody goes along and goes, ok, i'm going to deposit some in here now. I'm going to withdraw, withdraw to my smart contract over here,. It set the money before decramenting the balance, and actally took ten percent of all etheriam. That is the programme that's runting. That's what all it is. The thing is, is, when they say there's no central authorities there
Crypto is crashing, which makes it the perfect time to ask whether blockchain technology is actually — you know — useful for anything. Computer scientist Nicholas Weaver joins Adam to discuss the inherent flaws in the technology, the shockingly slow state of innovation considering that the technology has been around for a decade, and what a better system for digital money might be. You can follow Nicholas on Twitter at @ncweaver.
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