ETH Community Discuss DAO For Reversing Funds Lost to Wrong Addresses
A proposal for the creation of a specialized decentralized autonomous organization, or DAO, has garnered debate within the Ethereum (ETH) community. The focus of this DAO would be to refund users who have mistakenly sent their funds to a wrong address, provided that the address contains less than three incorrect characters.
The proposal gathered steam in response to a user requesting help from the r/Ethfinance community on Reddit after claiming to have lost 40 Ether as a result of a single mistaken alphanumeric character entered into the receiving wallet’s address.
ETH user sends 40 Ether to wrong address
On May 6, user daso14 requested help regarding a transfer of 40 Ether for which one of the alphanumeric characters corresponding to their wallet address had purportedly been incorrectly copied onto his computer’s clipboard.
In response, Reddit user conn6614 suggested the creation of a mechanism to salvage Ether that is accidentally sent to random addresses.
On May 16, Redditor SrPeixinho proposed a solution to the issue of the ease with which funds can be irretrievably lost as a result of a single mistyped character which would see a DAO created “to refund users that accidentally sent their Ether to the wrong address by 1-2 digits.”
Community debates refund DAO proposal
The DAO would comprise “a simple smart-contract deployed on main-net,” to which the community would donate Ether. The DAO would be tasked with verifying misplaced transactions with less than three accidental inputs, and divert a percentage of the lost money to users from its smart contract.
The proposal has sparked significant discussion on Reddit, with many users advocating for the introduction of checksums.
Other Redditors emphasized the slowly increasing popularity of Unstoppable Domains’ .crypto and .eth domain addresses to eliminate potential fat-finger errors.
If reproduced, please indicate the source: http://www.uucj.net/eth-community-discuss-dao-for-reversing-funds-lost-to-wrong-addresses/
Ripple’s Xpring and Blockchain Finance Fund have invested $1.5 million in Seattle-based crypto ATM startup Coinme. Coinme secures $1.5 million in fundingOn Sept. 12, Coinme, a global leader in cryptocurrency ATMs, announced that it had secured $1.5 million in funding from Ripple’s Xpring and the Blockchain Finance Fund to further develop its cryptocurrency ATM network in the U.S. and international markets.Coinme, in partnership with Coinstar, powers the world’s largest Bitcoin (BTC) ATM network, with over 2,600 kiosks across the United States. Neil Bergquist, co-founder and CEO of Coinme said: “We are bolstered by this vote of confidence by Ripple and Blockchain Finance Fund in our vision and the exciting opportunity to provide access to digital currencies for millions of people around the world. Coinme is building the infrastructure that powers the rapidly growing digital currency economy. We can now bring that infrastructure to a global audience.”Ethan Beard, a senior vice president at Ripple echoed similar sentiments by saying that Coinme is paving the way for mainstream adoption of digital currencies. He said: “Coinme is making it easy for everyone to…Sep 14, 2019
The Tor Project, the nonprofit organization behind the anonymous network Tor, announced that it now accepts Bitcoin (BTC) donations via the Lightning Network.The organization announced on Nov. 19 that it will accept Lightning Network donations as part of Bitcoin Tuesday, a fundraising initiative led by the crypto-for-charity organization The Giving Block.Tor recommended the BottlePay wallet for donations, which allows users to search for The Tor Project inside it and send crypto without copying and pasting addresses.The Lightning Network is a layer-2 payment protocol for the Bitcoin network that aims to expedite payments and address the network’s scalability problem. Fiat currencies also supportedAlternatively, the service also allows public donations through a tweet. The wallet also enables its users to donate Bitcoin directly, or automatically convert United States dollars, euros, pound sterlings, Australian dollars, Brazilian reals, Canadian dollars, Swiss francs and 15 more fiat currencies.The development of the Tor network is mostly financed by U.S. government agencies after its parent technology, onion routing, was first funded by the U.S. Office of Naval Research in 1995. Despite financial support from official organizations, the technology has…Nov 20, 2019
Canadian cryptocurrency payments provider, NetCents, has completed the technical integration of its consumer credit card into its proprietary ecosystem. NetCents announced March 20 that it had begun edge-case scenario testing in real-world environments in order to ready the card for launch.Not like other crypto credit cardsThe NetCents credit card promises users will not have to pre-load cryptocurrency onto their cards, differing from otherwise-similar products already on the market. Cards which require pre-loading can sometimes rob users of crypto value appreciation they would have otherwise received in the interim between loading and spending their coins.The NetCents card is directly tied to each user’s wallet, which allows cryptocurrency to be spent in real-time. The company has adapted its instant settlement technology to allow merchants to convert funds into fiat at time-of-purchase. They have also integrated the NetCents exchange into their offering.With integration of the card into its existing ecosystem complete, testing in real-world environments has begun. This is the final stage of development before public launch.Cointelegraph has reached out to NetCents for information on their testing and launch schedule, but had not…Mar 22, 2020
Twitter Facebook reddit Pinterest Hacker News LinkedIn Tumblr Google+ VKontakte The markets are finally reacting to the anticipated pre-Bitcoin halving bullish run as the total Bitcoin (BTC) futures market soared past $20 billion USD, representing a three month high since the October volatile runs. OKEx reported a total volume of $5.579 billion USD in the past 24 hours with BitMEX reporting a total volume of $5.08 billion and Huobi closing out the top three at $4.780 billion at the close of the Asian trading market. Does the soaring volumes represent a possible breakout for BTC towards the key resistance level at $8,500 USD?OKEx tops BTC Futures with over $5.5 bn in trade volumeOKEx, the top futures exchange according to Skew Markets, a top crypto analytics firm, recorded a three month high of $5.5 bn in daily traded volumes as the market pushed BTC back below $8,000 USD from key resistance levels at $8,400 USD –the highest price in 2020. The volatility in Bitcon’s price in the past few days caused an overall spike in the BTC Futures market soaring to…Jan 10, 2020
For decades, Masayoshi Son has flaunted his wealth and power to make SoftBank one of the most prominent names in tech investing. However, following devastating losses from both WeWork and Bitcoin, it’s time to consider that Son might be remembered as one of history’s worst investors.Son and SoftBank are currently raising more than $108 billion for Vision Fund II. This will be the biggest venture fund ever, beating the record of his Vision Fund I.Son’s investments in early internet companies like Yahoo! and Alibaba are legendary. However, a closer look exposes a gambler who has almost certainly lost more money than you – or anyone you know – will ever see.WeWork: The Nail in Masayoshi Son’s Coffin?The WeWork fiasco has shed light on SoftBank’s bewildering valuation metrics. After investing in WeWork at valuations as high as $47 billion, WeWork now finds its portfolio darling potentially worth less than $10 billion.It could have gone even lower had the company went public, which partially explains the decision to scrap its IPO plans.Ultimately, SoftBank could have to write down its investment in WeWork.SoftBank…Sep 29, 2019
Those people who don’t have a return filing obligation can use the new website to share their basic information so that already in the nearest future they will get their stimulus relief checks.America’s Internal Revenue Service (IRS), alongside the U.S. Treasury on Friday launched a website where Americans who are not required to file taxes can begin processing to get their stimulus relief check.The platform is now open for citizens and U.S resident aliens who possess a valid social security number and are not dependents of any taxpayer. Moreover, there are some limitations in accordance with gross income. Information like full name, email address, mailing address, and payment information are what the website requires from citizens applying to get the stimulus relief package.“People who don’t have a return filing obligation can use this tool to give us basic information so they can receive their Economic Impact Payments as soon as possible,” said IRS Commissioner Chuck Rettig.Also, the IRS announced a new “Get My Payment” tool to be launched later this month. The tool will help citizens with the status of…Apr 12, 2020
The United States Commodity Futures Trading Commission’s fintech lab will host office hours during New York Fintech Week. In April, the CFTC’s fintech research unit, LabCFTC, will host office hours during New York Fintech Week to engage with innovators in the field, according to a recently published announcement.LabCFTC’s objective is to promote market-enhancing fintech innovation and competition, as well as provide the CFTC with a better understanding of emerging technologies. The office hours will enable interested parties to participate in dedicated discussions and give a presentation to regulators. LabCFTC as a beacon in the emerging world of fintechThe CFTC established LabCFTC in 2017, with the department reporting directly to the authority’s chairman Heath Tarbert. Tarbert then said:“Blockchain, digital assets, and other developments hold great promise for our economy. Now is the time for LabCFTC to play an even greater role as we work to develop and write the rules for these transformative new products. That reality requires engagement at the highest levels within the CFTC, which is why I am elevating LabCFTC to be an independent operating office of the…Feb 12, 2020
Donald Trump is eager to reopen the U.S. economy so that things go back to normal.Many Americans won’t want to go back to public spaces when the lockdown is lifted.A vaccine looks like the only way for the country to return to normal.Many health experts have warned that widespread coronavirus testing should be implemented before reopening the U.S. economy. But Donald Trump doesn’t listen. He wants to open up the country so that it can start to recover financially.The president unveiled his three-phase plan on Thursday for states to reopen as soon as May 1 amid the coronavirus pandemic. Under the first phase, large venues like restaurants, movie theaters, sporting venues and places of worship could reopen if they operate according to strict physical distancing protocols.More testing could reassure people to go out to a certain extent, but the economy probably won’t go back to normal for a very long time.Americans Aren’t Ready For Economy To ReopenAmericans seem not to be ready to get back to life like it was before COVID-19. The lockdown has changed the way we do…Apr 20, 2020
Qualified digital asset custodian, Anchorage Trust Company, has added XRP to the list of assets supported by its institutional custody solution. The company announced support for the third largest cryptocurrency by market cap in a blog post on April 2.Anchorage claims that its custodial solution is safer than cold storage, while allowing the benefits of asset usability, offering features such as staking, airdrops, and even trading from custody.Xpring resources provide reliable solutionAccording to Diogo Mónica, Anchorage co-founder and President, XRP support relies on resources including those developed and maintained by Ripple’s developer platform, Xpring. This most notably includes the rippled open-source server, which powers the XRP Ledger.The custodial solution for XRP is available to institutional investors today, with plans to add additional services in the future. The project noted:“The flexibility of the Anchorage platform will allow us to support more advanced XRP functionality like Payment Channels should customer demand require it.”Respectability through associationAnchorage was one of the original members of the Libra Association, and as Cointelegraph reported, like many Libra backers, has also joined forces with rival stablecoin, Celo, as…Apr 4, 2020
Bakkt joins the field of institutional-grade bitcoin custody service providers after obtaining approval from regulators in New York. Meanwhile, the Bitcoin futures product launched by the Intercontinental Exchange (ICE) subsidiary continues to set new records. Bakkt Warehouse Obtains NYDFS Green LightBakkt COO Adam White announced the news via a blog post published on Monday (November 11, 2019). According to the announcement, the New York Department of Financial Services (NYDFS) has given Bakkt the go-ahead to begin offering its enterprise-grade bitcoin custody services to institutional clients.Before the approval, Bakkt’s bitcoin custody service was only available to clients who were trading the company’s Bitcoin Futures product, launched in September 2019. The company now joins the likes of Coinbase and Fidelity in the emerging institutional-grade crypto custody scene. Gabor Gurbacs of VanEck praised Bakkt on the move, stating that it could help to encourage greater institutional adoption of bitcoin. As previously reported by Bitcoinist, a study crypto trading resource The Tie showed a significant decline in institutional BTC interest. Congratulations to @Bakkt on launching their regulated and enterprise grade custody solution. These type…Nov 12, 2019