Developers Refused to Rollback Ethereum Blockchain to Return Stolen Cryptocurrency to Exchange bybit, hacked 21 February.
The issue of rolling back the ETH network was raised on Saturday. Several members of the crypto community came forward with an initiative to return the blockchain to the state recorded before the theft of digital assets worth $1,4 billion. A similar operation was carried out in 2016, when the decentralized organization The DAO.
I am not sure that this is the best solution. Given the spirit of blockchain, maybe it is worth holding a vote to find out the opinion of the crypto community, — the director said bybit Ben Zhou in response to a question about the ETH network rollback.
Ben Zhou
Programmers have been skeptical about the idea of changing the data stored in the network’s blocks. For example, Ethereum lead developer Tim Beiko said that modifying the transaction history would be disastrous due to the large number of DeFi and bridges running on the ETH network. According to him, the rollback of the Ethereum blockchain will cause “ripples” that affect other platforms, such as the second-tier networks of the ETH mainnet.
Thousands of innocent people will lose money and thousands will gain it. Efirium became home to decentralized financial services and the basis for countless rollups. Such infrastructure cannot be taken and rewinded, — noted the director of the blockchain company Yuga Labs, known under the pseudonym Quit.