• Cardano’s Smart Contracts: Can They Be Hacked? Charles Hoskinson elaborates

  • IOHK CEO Charles Hoskinson recently stated during an ask-me-anything session that smart contracts are not immune to a potential hack because “anything” that is written and built can be broken.

    He went on to discuss the concept of “certified software,” which “exponentially” reduced the likelihood of such black swan events occurring:

    If you have a specification and a specific development methodology and tooling, you or an outside auditor can demonstrate that the implementation adheres to the specification and that the specification can be well-tested and understood…

    If you do this, your chances of being hacked decrease exponentially.

    Hoskinson goes on to say that Cardano and Plutus, the blockchain’s smart contract platform, are built with high assurance in mind.

    The billionaire also warns users that the decision ultimately rests with them, implying that it is up to them to decide whether or not to trust a particular piece of software. As a result, he claims that the single best thing users can do to avoid a hack is to become more knowledgeable.

    According to Cardano’s creator, there are numerous impersonation websites for the Daedalus wallet.

    Despite regularly warning his followers about ADA giveaway scams, Hoskinson claims he continues to receive e-mails from enraged users.

    escalating excitement

    The IOHK team announced that the Cardano smart contracts will be rolled out on Sept. 12 with the mainnet launch of the Alonzo hard fork.

    Due to the excitement surrounding the major upgrade, ADA has increased by more than 58 percent in just one week.

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