THELOGICALINDIAN - The appearance of Blockchain 20 and Blockchain 30 has accustomed acceleration to new means of automation application Bitcoins basal technology There are appropriate cryptocurrency platforms like Ethereum Rootstock Counterparty Lisk and added that allows bodies to actualize acute affairs on the blockchain These acute affairs accredit automation by acceptance developers to set activate altitude These activate altitude are assertive prerequisites back met will assassinate the action programmed on the acute contracts
The acute affairs are now actuality implemented (in beginning stages) by some of the above cyberbanking and banking institutions including banal exchanges. Apart from the banking sector, there are abundant applications of acute affairs as well, like crypto-will which is a self-executing will and aftermost attestation on blockchain that is triggered already its architect is dead, or acreage registry, rights administration and more. As added and added operations angular appear automation application acute contracts, it becomes all-important to ensure the candor of these acute affairs as able-bodied as the belvedere on which these affairs are created.
Until now the agreements and added important abstracts were drafted and absolute by lawyers, but with acute contracts, the attorneys may not be able to do much. Verifying the actuality and believability of acute affairs will be larboard to a altered brand of experts accepted as blockchain architects or acute arrangement engineers. However, the albatross of reviewing the acute affairs for loopholes and active them will abatement on the hackers. Yes, you apprehend it right! Hackers will anon be the new lawyers.
The alteration absoluteness was recognised and bluntly declared by Charlie Lee recently, on his Twitter feed. He stated,
“In the future, we are activity to appoint hackers to attending over a acute arrangement aloof like we appoint attorneys to attending over a arrangement today.”
We can say with some authoritativeness that Charlie was not apropos to atramentous hat hackers in his tweet. White hat hacking is an important aspect of cyber security. The role of white hat hackers is to acquisition loopholes in the aegis of any belvedere or software by hacking into it in controlled altitude and again award solutions to fix those loopholes so that addition abroad with awful absorbed doesn’t abusage it on a after date.
The contempo advance (in the absence of a bigger word) on Ethereum DAO area the ‘attacker’ managed to carry off 3.6 actor ether on to a adolescent DAO has apparent the apple that the blockchain based acute affairs and DAOs are still vulnerable. This has additionally presented the charge for all-encompassing testing of all these blockchain based platforms and acute affairs for aegis flaws and vulnerabilities, which is the accepted job contour of a white hat hacker.
Once acute affairs become the norm, every acute arrangement will accept to be anesthetized forth to a hacker, aloof like the way affairs are anesthetized on to the acknowledged aggregation in companies afore execution, authoritative hackers the new attorneys in the decentralized world.
