Charity DAO – Suffering From The Same Mistakes As The Original DAO?

Most cryptocurrency enthusiasts will remember The DAO, a failed Ethereum-based experiment creating a major crowdfunding effort to deliver nothing in the end. Even though that concept was a disaster, the original team is trying their hand at a new venture. Under the Charity DAO banner, their new effort will focus on bringing transparency and trust to the charitable sector.

That seems to be the main question for the time being. It is difficult not to be critical about projects that build further upon flawed foundations. The DAO was a disaster, due to its code vulnerabilities, and the inability by project developers to address key flaws they were aware of before the crowdfunding even began.

In the end, The DAO was attacked successfully multiple times, resulting in funds being stolen. Moreover, this also highlighted the divide within the Ethereum community itself. Vitalik Buterin and other Ethereum developers decided to bail out The DAO and its investors through a hard fork. That decision did not sit well with a portion of the community, and Ethereum Classic was created.

The Charity DAO – Another Scam or Honest Intentions?

Fast forward to today, and we now have a project called Charity

Read more ... source: NewsBTC USA

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