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The Journal · Finality

A ledger is final only while its operators agree.

Zano, Cronos and Cosmos each rewrote a recent history. Immutability is a governance property. The grown-up response is to publish who can intervene.

Three incidents, close together, retired a slogan. Zano restarted from a block before a broken upgrade, after a bug in its Gateway Address feature let an attacker create on the order of 36.9 million unauthorised ZANO and an absurd quantity of fUSD. Because the illicit coins could not be told apart from the real ones, roughly a month of ordinary transactions went with them.

Cronos halted and rewound about 10,961 blocks, a little under two hours, after the Tectonic exploit. Later accounting put affected borrowing near $120 million, with about $111 million recovered and roughly $9 million already gone. Cosmos Hub validators moved about 1.23 million ATOM from an exploiter’s address after a restart, without that wallet’s signature. These are the figures in the public accounts of the incidents. They are not a reason to say every chain is theatre. They are a reason to say finality is a decision.

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In this piece

  1. 01Three different uses of the same power
  2. 02Reversibility is sometimes the lesser harm
  3. 03Seven questions for an intervention
  4. 04Publish a finality and intervention profile

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