There have been countless cases of crypto wallet hacks that have often led to the loss of enormous amounts of funds. At current, Ethereum developers are at crossroads concerning the fund recovery proposal EIP 867. This improvement could enable stolen funds to be returned to their rightful owners after being taken.
A Gathering of Developers
Some Ethereum senior programmers are calling for an open debate to come up with the best steps to take in improving the network to make it possible to return funds lost in notorious hacks and other crypto pitfalls.
on February 9, 2018, at their routine bi-weekly meeting, some programmers endorsed the controversial Ethereum improvement proposal EIP 867, which provides a standardized format for recovery of certain classes of lost funds.
However, the proposal has attracted a lot of criticism as other senior members like Yoichi Hirai do not support making changes to the Ethereum protocol just because some investors’ ether was stolen by hackers or lost due to ignorance on the part of the owner.
Yoichi Hirai wrote in a blog post that he is “not going to move a finger for such changes,” adding that:
“The choice comes from my personal belief that each user of Ethereum is responsible for their use of Ethereum. I also believe that, if others pay for a user’s mistake, the payment should be voluntary donations (as opposed to freeing stuck tokens). And, originally, I just wanted a simple, deterministic virtual machine that doesn’t change frequently.”
While both the supporters and critics of the EIP 867 proposal are still trying to reach a consensus, Ethereum developer Vlad Zamfir told stakeholders present at the meeting that:
“These proposals, especially proposals that do set important precedents, that impact the relation of the community and the platform, I think need to be subject to a public debate that I’m not actually sure the EIP process is designed to handle.”
Community manager Hudson Jameson agreed with Zamfir’s suggestion and confirmed that the debate should be done on social media. Similarly, independent developer Alexey Akhunov proposed a live video debate between members of the programming team.
However, developers like Piper Merriam kicked against the idea stating that it’s better the debate remain in written form because a live discussion would look like a “politician-based thing,” and a “popularity contest.”
As it stands, further action can’t be taken on this proposal until the process for changes to the Ethereum code is clarified and written in EIP-1. May the best proposal win.