BitGreen Proposes Hardfork in Response to Cryptopia’s Liquidation
About a week ago, Cryptopia announced that they were welcoming liquidators following the hack in January. Although the company emphatically stated that the move to liquidate the business was in the best interest of its customers, staffs, and stakeholders, it is still unclear what the outcome will be?
Taking a leaf from the Mt. Gox hack in 2014 which has lingered on for several years, uncertainty fills the air as to whether Cryptopia will refund customers, and if yes, how soon.
A few blockchain projects that were affected by the hack are taking a stance in response. Pirl, for example, proposed allowing the liquidators to do their job or forking and erasing all Cryptopia addresses.
BitGreen has also proposed a similar action – a mandatory fork and wallet update which will temporarily lock Cryptopia’s addresses pending the action of the liquidators. Stakeholders on the network can vote on whether they support the hardfork or not.
While this demonstrates the power of a decentralized network, it also questions the “immutability” claim of blockchains. Ethical questions such as “should networks be rolled back for the greater good?”, and “what is the greater good?” may arise in the future.