Developers Forum for XinFin XDC Network

Discussion on: DaoFin Draft: Decentralizing XDC’s Ecosystem Development

dev_long_ae20936c70fd2ae7 profile image
Dev Long

I respect the points that you bring, but who's to say that the funds will not get hacked where they are currently being held. The smart contract can be executed while maintaining the funds in a secured custody solution that offers insurance in case of hacks. Anything is hackable with the proper amount of effort and time, so the excuse of smart contracts are hackable does not solve the issue of one entity controlling the funds. How is it possible that other foundations (ETH for example) is able to keep their funds secured with so much more transactions and volume on their network? Because it is possible to achieve what I am suggesting. Let's see how this plays out but if we truly want the XDC Network to be decentralized, the way things are the moment is not decentralized and the DAO will be just a front of decentralization while the actual funds are controlled by a handful of people. All my comments come from a good place because I do want the XDC Network to be successful.

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duts profile image

Noted, and appreciated! We'll be looking into all this very closely.