So Bancor got hacked but is really decentralized?

in #ethereum6 years ago (edited)

It really sad that Bancor got hacked. A great exchange but I never liked the tech behind main token. The main token gives them full right to block Txs...
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I mean the exchanges is "decentralized-ish" but its token is not...
Also how can it claim to be decentralized if all the funds could be accessed.
Would you want to use a decentralized token if the token they made is not decentralized along with funds at a central point?
Plus in order to scale Ethereum they will need to do side chains and if they are not created decentralised technically they can block txs....

This is why i like Atomic Swaps way better than any other tech!

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Not decentralized at all. They have full control of all funds.

Bancor is not decentralized if they can freeze assets. All those hacks are damaging confidence in Crypto but they are pushing developers to work harder...

In my opinion, in general, it was really overhyped and overvalued. And even though they've built the product at some capacity it didn't really bring any value to the market. Also once met one of the co-founders and this person was treating me like a slave, just because I was willing to help with arrangements. Find as little as no belief in management with such low working ethics. But wish they recover ASAP, move on with the development and learn something from the whole hack situation.

Yep completely agree

Hey @sames, you just received a random 100% upvote for your activity at the @minnowsmith project! Stay tuned and keep mining. :)

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