The DAO Attack: What is it and What Went Wrong? The DAO or Decentralized Autonomous Organization is a program that was built on the Ethereum blockchain network that aimed to become the largest crowdsourcing platform.
What happened to the DAO's code?
The DAO’s code had vulnerabilities which was noticed by many prior to the completion of the token sale, to be more specific there was a bug in the smart contracts of the DAOs wallet which the hackers took advantage of.
What happened to the Dao token?
It was crowdfunded and one of the highest profile projects on the Ethereum blockchain, within 28 days of conducting the token sale it received investments from over 11,000 investors. The DAO tokens were tradable on various cryptocurrency exchanges from 28 May 2016. What actually went wrong with the DAO?
What is the Dao & why is it important?
Remember The DAO? This contentious event early in the history of blockchain shook the Ethereum community to its core. The DAO was a decentralized autonomous organization (DAO) that was launched in 2016 on the Ethereum blockchain.
