New ideas usually need to mature. When the new idea is a digital currency, maturation must take place within the software. Software bugs are common throughout programming, but in digital currency they can be more significant than a swirling rainbow beachball. One software flaw was exploited in a new digital currency, Ethereum, and was used to steal about $80M.
“A real fix for Ethereum’s problems will take a long time, and perhaps a complete redesign of much of its technology.” MIT Technology Review
Digital currencies, cyptocurrencies, can succeed, as Bitcoin has demonstrated; but along the way there will be mistakes. Within the physical world, there are physical limits to how much a thief can walk away with. Within the digital world, there are few if any limits. The technology has some growing up to do, and it’s doing it, but it isn’t there, yet – evidently.
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