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Ethereum to Use $220M From TheDAO Rescue as Long-Term Security Fund

Unused funds from TheDAO hack recovery, held for a decade, will now serve as Ethereum’s permanent budget to strengthen network security.

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Terms & Concepts
  • TheDAO: A decentralized autonomous organization launched in 2016 that suffered a major hack due to a smart contract vulnerability.
  • Smart Contract: Self-executing blockchain code that automatically enforces the terms of an agreement without intermediaries.
  • Ethereum Security Budget: Allocated funds intended to maintain and improve the Ethereum network’s resilience against attacks.