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0 pointsceejayoz4y ago0 comments

In some cases, perhaps, but not all.

Fraud, for example, isn't legal even if you have a cleverly crafted contract that uses wording tricks to technically be true.

I would expect a court to take a dim view of a smart contract that has an obfuscated, non-obvious mechanism for someone to siphon off all the money in an undisclosed fashion. "Code is law", but so's "you can't defraud people".

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SiliconAlley4y ago

Where’s the part where anybody defrauded anybody? This was clearly incompetence that benefited nobody (certainly the developers would rather not have TITAN implode and all of this USDC locked in a contract...). Embarrassing yes. Fraud? Pretty clearly no

ceejayozOP4y ago

It's an example of a scenario where you can't sign certain rights away. Not specific to TITAN.

lupire4y ago

How can it be "locked"? Can't they deploy a protocol update to the members of the compute pool?

acjohnson554y ago

Depends on how you write the contract. If you make a smart contract unilaterally updatable, then it's no longer decentralized and trustless, because people with admin rights can plunder it, or can be extorted, or compelled by authorities to turn over the capital.

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