But now a days it's hard for me to understand what's going on in crypto world. For example I couldn't even parse their statement:
"#PolyNetwork was attacked on @BinanceChain @ethereum and @0xPolygon Assets had been transferred to hacker's following addresses:"
Source: https://twitter.com/PolyNetwork2/status/1425073987164381196
I'm getting CDO, CDO^2, Synthetic CDO vibes reading this.
eth peeps get rugpulled again! lest we not forget ETC ethereum classic is actually the real eth chain except they forked it to salvage the DAO debacle - except the internet has a short memory and no one remembers this any more.
inb4 ETH3 fork
Haha, smart contracts are as stupid as the average "intelligent home" only worse: They cannot be updated.
People writing smart contracts should be the ones coming from a firmware/embedded writing background, not "webdevs". Right now DeFi smart contracts look like the 90s web: Tons of "Defaced" website every week. Of course now there's a stronger incentive given that monetary value is involved.
This is an overly broad statement that doesn't accurately represent the entire space. There are a good number of projects with very experienced developers that use rigorous testing, multiple audits, etc. There are also teams that yolo smart contracts with very little testing. Assuming every project in the space is the latter is quite inaccurate.
Some more details here if you're curious: https://news.ycombinator.com/item?id=27812093
Polygon is a protocol described as an 'Internet of blockchains' that is compatible with Ethereum and connects with other Ethereum-compatible blockchains.
They suffered an attack on its blockchain that affected other blockchains and the coins affected were sent to the hacker's address.
From my understanding:
Polygon (formerly MATIC) is a token related to (built off?) ethereum.
Poly Network was a bridge layer that spanned polygon and ethereum.
Polygon and Poly Network are distinct entities as far as I can tell, but they are all overlapping and using each other, so I don't fully understand the distinction.