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Hackers steal NFTs worth millions. In other news, NFTs worth millions. (www.theblock.co)

submitted 11 months ago* (last edited 11 months ago) by [email protected] to c/[email protected]

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The way I read the article, the "worth millions" is the sum of the ransom demand.

The funny part is that the exploit is in the "smart" contract, ya know the thing that the blockchain keeps secure by forbidding any updates or patches.

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[–] [email protected] 13 points 11 months ago (1 children)

Another question is: why would you need it for a key?

Long-established public/private keys and signatures are used in this way all the time to control access to servers around the world. No blockchain needed. Blockchain is helpful when we all need to agree on a series of events.

Homes are a nice example of where you can have an isolated system which knows what it needs to about you (e.g. a public key) without sharing or cross-checking anything with the world.

[–] [email protected] -3 points 11 months ago (2 children)

The chain would be used to establish who owns the home.

[–] [email protected] 10 points 11 months ago

That sounds more like a land registry system, than a key.

[–] [email protected] 1 points 11 months ago

Just like the NFTs in the article! Great idea
Lol