The reality is Code is Law in DeFi. Whether you like it, or not. The question is irrelevant.
An attacker is going to rob every last user asset from a smart contract, if the smart contract lets them. No judge or court can stop that from happening.
Since Code is Law, the Code must need to be magnitudes better. With safe blockspace we believe "Code" means the system design, the chain itself.
Here are the facts:
- it is social consensus that exploits are theft, and theft is not "accepted" behavior
- yet chains are designed to accept theft today
- for a decade this industry has tried to prevent exploits at the app-layer and has completely failed
- failed to even stop the most fundamental exploit pattern of re-entrancy
- the system must evolve, to stop the billions in user assets stolen per year
@lessig , father of "Code is Law" correctly saw code as architecture that shapes how people interact with technology and the digital world, much like traditional laws regulate behavior in the physical world.
That we have responsibility for what we program, how we design these systems. Design them to exploit users and they will. They have. Are we ok with that? I am not. The system today is completely broken.
Safe blockspace is the implementation of a better designed system for DeFi and smart contracts.
Program the values we hold into the system, such as theft is an invalid action, while still retaining user rights. This is the real cypherpunk way. This is the future. Read any of my recent articles to understand how we accomplished this.
for those wondering what I'm referencing towards, it's from the recent docu described here:
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x.com/DeFi_Dad/status/198072…
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x.com/laurashin/status/19818…
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x.com/PatrickAlphaC/status/1…
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x.com/functi0nZer0/status/19…
this spiel is not directed at
@PatrickAlphaC or any of the posts I've tagged, much respect! I'm just glad to see the convo on this critical subject thanks to this great film.
h/t
@jamescraig1111 @CodeIsLawFilm , and all involved. My full thoughts in my article below.