One of the issues that I have with DeFi projevts is the fact that DeFi products are quite new which made them prone to errors that normally create vulnerability for hacks.
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One of the issues that I have with DeFi projevts is the fact that DeFi products are quite new which made them prone to errors that normally create vulnerability for hacks.
That's true. It's one of the reasons why reputation is going to be very important going forward.
And also a good deal of risk management
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I believe that Defi projects will be able to stand firm with years. Regulation may not be bad if the Regulators will create a comfortable environment for everyone and not just for themselves
Yes, I think that the DeFi projects that can prove to be solid will be able to last for years to come but many others will be unsustainable and will fail.
That's why I try to stick to the ones I think have the best chance of making it
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It's a natural process for all things as they develop. The hacks will naturally occur but hopefully other Defi systems are paying attention and patching it up as well. Then again you never know if the hack is an insider job
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Getting hacked sucks (especially when it happens to you), but it gives the other DeFi platforms an opportunity to tie up loose ends in their security and coding.
Heck, Dogecoin got hacked just a few weeks after it was released in late 2013. It tied up loose ends and made changes, and it managed to survive; look where it is today.
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Yea getting hacked isn't a problem. It's what they do after the hack that is the issue.
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Spoken by someone who has never lost their money to a hacker. lol I think those people would tend to differ with your statement that "getting hacked isn't a problem".
I haven't either so I'm not throwing shade. I'm just saying that it IS a problem. Every time. Regardless of "what they do after". It costs people lots of money. It fosters a lack of trust by newbies and inhibits crypto from going mainstream. And it invites regulators in to put their greasy little paws on everything. It needs to stop and people need to pay attention to who they're dealing with.
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Well...I haven't lost money so I can only say from what I know. At least right now I would say the after effects are going to be quite important going forward to whether or not you can trust them as a platform.
I remember Leo said their wLEO pool was hacked before and their actions afterwards was what made people believe in them afterwards.
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That's true. Only the ones that keep learning and developing to create their project better, will win this race. One should proceed with caution before putting any serious money into these projects.
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It is the quirk with all technology.
Look at how long Windows spent trying to clear up bugs.
30 years and counting.
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Trying to clear up bugs? That's news to me!
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