DApp that Nearly Broke Ethereum! | Blockchain Central

This episode of Blockchain Syndrome explores the history and impact of The DAO, a decentralized autonomous organization on the Ethereum blockchain. It covers the DAO's vision, the vulnerabilities that led to a major attack, and Ethereum's controversial response, including a hard fork that resulted in the creation of Ethereum Classic. The episode concludes with a call for viewer feedback and engagement.

What is a decentralized autonomous organization (DAO)?

• An organization that runs on a blockchain using smart contracts

• A government-regulated financial institution

• A type of cryptocurrency

• A traditional company with a CEO

What was the primary purpose of the DAO?

• To replace traditional banks

• To serve as a decentralized venture capital fund

• To develop blockchain games

• To create a new cryptocurrency

What was a significant risk associated with the DAO's code being on the Ethereum blockchain?

• It was immune to hacking

• It was invisible to everyone

• It allowed everyone to identify and exploit vulnerabilities

• It was only accessible to developers

What was the outcome of the attack on the DAO?

• The DAO was unaffected

• Over $50 million was stolen

• The DAO's funds were completely secured

• The DAO gained more investors

How did the Ethereum team respond to the DAO attack?

• They ignored the issue

• They created a new cryptocurrency

• They implemented a hard fork to return funds

• They shut down the Ethereum platform

What was a controversial result of the Ethereum hard fork?

• It led to the creation of Bitcoin

• It made Ethereum more centralized

• It had no impact on the blockchain community

• It went against blockchain's core values of decentralization and immutability

What happened to the DAO tokens after the attack?

• They increased in value

• They were listed on more exchanges

• They were delisted from all major exchanges

• They were converted to Bitcoin