4.8 • 1K Ratings
🗓️ 13 December 2018
⏱️ 40 minutes
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0:00.0 | Brand Lettievie here, welcome back to malicious life. The hacking of the Dow a |
0:15.0 | a popular decentralized application from 2016 is a story somewhat different than those generally covered on malicious life. |
0:24.5 | Instead of the types of attacks we've become accustomed to, |
0:28.4 | the Dow Hack occurred over Ethereum, a blockchain technology. |
0:35.0 | Blockchain is quite unique. |
0:37.0 | It operates differently from normal computer networks |
0:40.0 | and therefore the security protocols associated with it are quite different as well. |
0:46.0 | Actually, scratch that. |
0:48.0 | Blocchane isn't just different or unique, It's strange. Consider this. When the platform got hacked, everybody, not just the security experts, but everybody, knew how to thwart the hacker. |
1:07.5 | So the question really was never about how to stop the hacker. |
1:12.0 | It was whether to do so in the first place. I mean think |
1:16.1 | about that for a second. It's like a bank getting robbed and instead of trying |
1:20.4 | to get the money back, the customers of the bank all get together and debate. |
1:26.0 | Should we try to get our money back? |
1:28.7 | Or just forget about it. |
1:31.2 | Today on malicious life, tens of thousands of people get robbed. |
1:35.0 | Then a community gets together to ask, |
1:38.0 | should we take our money back or let the hacker walk with it. |
1:43.0 | To begin to understand why thousands of people might prefer to see a hacker pocket millions of dollars |
1:58.0 | then return that money to its rifle owners, you first have to know a bit about how blockchain works. |
2:05.0 | Etheorem is arguably the world's most successful blockchain platform to date. |
2:11.0 | It's what you'd call a second generation iteration of blockchain tech, the first being |
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