RE: Leofinance Starting The Path To 40,000 Users
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Fortunately, that project is not dead, only delayed. The UI still has the conversion from LEO to wLEO programmed in so it is not difficult to initiate again. However, before that happens, more security features will have to be provided once the present investigation is done. I would expect we will see wLEO again, possibly before the end of the year.
Unfortunately, this is where the immutability of Ethereum content may work against wLEO depending on whether the bug was in the contract code. If the bug was in a code run on some centralized oracle server by the team or elsewhere but not in the contract, then wLEO can be revived. Otherwise, a new contract under a different name has to be launched. Every buggy contract remains on Ethereum forever as dead weight. But that's the price we pay for immutability. Interestingly, Koinos solves one downside of this by enabling the offloading of seldom accessed content from the chain to a storage from which it can be retrieved and cryptographically verified to be correct.
Posted Using LeoFinance Beta
Yeah I do not know where the bug was and what they will ultimately determine as the cause.
But you bring up a valid point, the wLEO name might be dead. Have to figure another way of phrasing it.
Posted Using LeoFinance Beta