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The Cardano community is responding to a previously fixed dApp issue

To update: IOHK responded to this article and informed CryptoSlate that the discovery is a known issue that has already been fixed by developers.

The founder of Canonical, a company specializing in Plutus Smart Contracts, Jonathan Fischoff published a public notice last week describing an exploit affecting any Cardano dApp.

Despite the potential impact of Fischoff’s findings, the Cardano community remains unfazed.

But should this development raise wider concerns about Cardano’s viability? Specifically, as Fischoff claims, patching has implications for smart contract design and efficiency.

What are the possible effects?

Fischoff opens his research by saying that this exploit has been a problem affecting every Cardano dApp since mid-October. However, he adds that this will not affect UTXOs.

“As of mid-October, every Cardano dApp with publicly available smart contract code has a similar exploit in its first smart contract.”

UTXO refers to a verification system used by the Cardano protocol that records the movement of assets through “unspent expenses,” as opposed to an accounting system. Proponents say this method is more secure and offers better privacy and scalability, as each UTXO can only be consumed once and as a whole.

The article does not provide precise information on the exploit, perhaps for security reasons. However, Fischoff said he is in contact with Plutus developers to enlighten them on how to avoid the issue.

Nonetheless, Fischoff states with great concern that containment of the exploit will significantly affect the “design and efficiency” of Cardano smart contracts. The result is the need to redesign the smart contract and possible delays in adoption.

“Additionally, the mitigation of the attack has implications for the design and efficiency of smart contracts, which can lead to significant redesigns if you don’t understand the design limitations early on.”

How the community reacts

Cardano has been rated as a more secure platform compared to others. But Fischoff’s smart contract research punches holes in that view.

In a Reddit post on the subject, the community as a whole is unimpressed by the results. With some comments even joking about the situation. One commenter downplayed the potential importance of a universal exploit, passing it off as an irrelevant FUD.

“Thanks. Got my daily dose of Cardano FUD this morning.”

Others praised the processes in place and said it was fortunate that the problem was discovered now and before anyone lost as a result of the $ADA exploit.

In any case, given that Cardano is already under pressure due to a significant shortage of dApps, Fischoff’s findings only add fuel to the fire.

Update Dec 20: The title has been updated.

Posted in: Cardano, Technology

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