The developers of Ethereum, a decentralized platform for applications, have given the community a chance to decide whether the Ethereum network should temporarily freeze the funds handled by the DAO in its version 1.4.7 of Geth (“Dao Wars”).
The DAO, also known as the distributed autonomous organization, had more than 3 million ETH removed from its stores on June 17. The Ethereum foundation and its founder Vitalik Buterin were quick to respond to the issue, but weren’t able to implement a temporary solution to prevent the leak of funds.
The Ethereum foundation and its developers are currently attempting to recover some of the funds without implementing a hard fork or any kind of invasive action that could cause harm to the Ethereum protocol.
One solution that has been proposed by the developers of Ethereum is a consensus-based model in which the community can vote to implement a soft fork that would ultimately decide whether certain transactions will be put on hold or frozen.
To support the Geth 1.4.8 release and have a voice in the action, miners supporting the DAO can simply contribute to the network and the community by running –dao-soft-fork. If the anticipated votes are reached in approximately 6 days from now (block 1800000), the soft fork will be implemented and DAO’s funds will be temporarily frozen.
The Ethereum developers note that the soft fork will block all DAOs from releasing funds or carrying out transactions. The developers have listed accounts which the community considers attacked. However, the developers will still block all funds, until a follow up patch is added onto the soft fork to whitelist all DAOs split.
“Note: If the soft-fork passes, it will block all DAOs from releasing funds, not just the ones the community considers attacked. This is understandably undesired for all legitimately split DAOs. As such – if the community votes to enact the soft-fork – we propose a follow up patch to the soft-fork that will whitelist all DAOs split according to the intent upheld by the enacted soft-fork,” wrote Peter Szilagyi on an Ethereum blog post.
The Ethereum developers stated that an update from non-miners such as nodes, wallets, and mist, will have little relevance. They further emphasized that the decision to not update to Geth 1.4.8 will make a decision against the soft fork.
“Miners who do not update by definition vote against the soft-fork as they will continue the current logic of keeping the gas limit above the vote threshold. If the soft-fork is accepted by the majority, non-updating miners will still accept blocked transactions. In that case, non-updating miners will either fork off their own Ethereum network, diverging from the majority, or will forfeit any blocks they mined,” added Szilagyi.
Still a big question remaining: Will ETH miners accept a targeted soft-fork and the precedent it sets? They can refuse
— Andreas (@aantonop) June 17, 2016