Should blockchain transactions be rolled back? Vitalik's small investigation sparked a big discussion

Ethereum co-founder Vitalik Buterin sparked controversy in the cryptocurrency community after proposing developers to reverse transactions.

Etherum

In a Twitter survey yesterday, Buterin asked the user's perception of the rollback blockchain activity when a major hacker attack on an exchange or similar entity.

“Assuming there is a very popular smart contract wallet, most people in the Ethereum community are using it, but this contract has been hacked. We can do a DAO-like operation by reversing all chain activities after the hacker attack. Hard fork to get back all the money."

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Then, he also asked how many coins were stolen and the community would support manual rollback transactions.

The survey seems to have touched the nerves of some people. They believe that morally, this has nothing to do with the amount of money – the act of rolling back the transaction will lead to the centralization of the blockchain.

Someone even said mercilessly:

“Ultimately, it all depends on whether Vitalik is a user of a wallet.”

"This blockchain is the Failchain (failed chain)," concludes Bitcoin expert Dennis Parker.

It has also been suggested that if a smart contract is attacked, the creator should compensate the user because the fundamental problem is its design, not the entire blockchain network.

However, more than 60% of the more than 10,000 voting users confirmed that they would not tolerate any remedy under any circumstances.

Ethereum developers have carried out transaction rollbacks. In June 2016, after the decentralized autonomous organization DAO was hacked, developers chose hard forks to roll back transactions. That attack caused the loss of Ethereum, which was worth $60 million at the time.

Ethereum is currently undergoing a long-term upgrade that will eventually change its algorithm. These improvements will help solve the "growth troubles" that the network faces – in August, Buterin said that the Ethereum blockchain is almost full.

Despite this, as the largest competitive currency in the market, Ethereum has performed modestly this year, while Bitcoin has firmly occupied the top position.