In 2016, the Ethereum network was soaring, with Vitalik Buterin's creation becoming the second-largest cryptocurrency by market cap. However, the success of Ethereum's leading project, the DAO (Decentralized Autonomous Organization), was short-lived. A major hack resulted in the theft of $55 million in user funds, sending shockwaves through the crypto community.
This 99Bitcoins video delves into the details of the DAO attack, the mystery behind the hacker's identity, and the controversial decision made by Vitalik Buterin to hard fork Ethereum in response. Don't miss this captivating look at one of the most significant events in the world of cryptocurrency.
Here is what we will cover in the video:
[0:00] - Ethereum's Rise and the DAO Project [1:29] - Vitalik Buterin's Controversial Decision [3:51] - Explaining the DAO Hack [5:27] - Identifying the DAO Hacker [7:33] - The Ethereum Community's Debate [10:16] - Justifying the Hard Fork [13:20] - Ethereum's Future Despite the Setback
