Mbitcoiner on Nostr: It's almost too perfect. An Ethereum smart contract exploit at an exchange occurred ...

It's almost too perfect. An Ethereum smart contract exploit at an exchange occurred just three days after we highlighted technical flaws in crypto in our essay on the BitcoinMajlis (nprofile…wruf) blog.

When you design a digital monetary system to do more than just act as money, like implementing smart contracts on the base layer, you inherently compromise on security and decentralization by default.

We explored this in our essay. Check it out 👇

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Our 2nd essay in the Bitcoin Only Series is now posted on BitcoinMajlis (nprofile…wruf), where we talk about the technical issues facing crypto, particularly how altcoins sacrifice decentralization, security, and immutability for technical "improvements". Read it here:

https://bitcoinmajlis.org/bitcoin-only-series-2-4-technical-issues-of-crypto/