This may or may not be true. I have some reason to doubt, though. Remember that the complexity of ethereum is very high and that any security hole potentially costs people lots of money. I believe there will be far more exploits than this one and that as smart contracts have more risk associated with them, there will be more of a demand for auditing the code. Auditing code, especially in the javascript-like environment that ethereum has is not simple and to get any guarantees is going to be very hard. It would be one thing if this were OCaml or something similar that can provide some proofs, this is not that.
Hence, the costs to audit and provide guarantees on even a small contact are going to be very expensive. Think like 100-200 hours of expensive developer auditing time per 10 hours of developer coding time. It's much easier to code than to audit and the set of developers that can code something is much larger than the set of developers that can audit it.
In other words, this is going to be a very expensive thing to do. Perhaps there will be a market for smart contract auditing services and the like which can streamline this stuff, but for now, that doesn't exist. I still think this is going to be a much rougher road than perhaps you and dantheman seem to think for ethereum.
This may or may not be true. I have some reason to doubt, though. Remember that the complexity of ethereum is very high and that any security hole potentially costs people lots of money. I believe there will be far more exploits than this one and that as smart contracts have more risk associated with them, there will be more of a demand for auditing the code. Auditing code, especially in the javascript-like environment that ethereum has is not simple and to get any guarantees is going to be very hard. It would be one thing if this were OCaml or something similar that can provide some proofs, this is not that.
Hence, the costs to audit and provide guarantees on even a small contact are going to be very expensive. Think like 100-200 hours of expensive developer auditing time per 10 hours of developer coding time. It's much easier to code than to audit and the set of developers that can code something is much larger than the set of developers that can audit it.
In other words, this is going to be a very expensive thing to do. Perhaps there will be a market for smart contract auditing services and the like which can streamline this stuff, but for now, that doesn't exist. I still think this is going to be a much rougher road than perhaps you and dantheman seem to think for ethereum.
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Sorry, I think I misunderstood. I thought you were saying that smart contracts wouldn't be expensive to secure.
My mistake. I was the one who was confused about your comment, which I completely agree with. I deleted my confused comments.