What is Ethereum ?.

Ethereum is incredible idea about The World Computer which was execute smart contract. Each nodes of Ethereum network are running EVM (Ethereum Virtual Machine). EVM make sure that smart contract execution will give the same result. Ethereum base on blockchain technology and proof of work system.

What was wrong ?

Ethereum and Solidity (a smart contract programming language) are nice and easy to implement smart contracts, tokens, assets. Solidity itself have some minor bug and Ethereum core are going to improve it. Everything will be okay if Slock.it didn't make their mistake.

Slock.it and The DAO

The DAO is an ambitious project. The DAO in short is decentralized investment funds. The DAO token is a long term contract which will funding token holder in the future.

The DAO was attacked

The DAO contract held a big amount of Ethereum and Slock.it is self conceited, they believe The DAO contract is perfect they they paid for the mistake^[1] .

A recursive bug inside The DAO contract was found by attacker and it give him ability to split The DAO to child DAO ^[2].

Soft fork

The soft fork was considered to save The DAO and Slock.it but it went wrong ^[3]. It's also good reason for hard fork.

Hard fork

Hard fork is the worst thing to blockchain. Ethereum have to choice between protect their concept or protect investor profit. And they decide to save investor, push their concept to fire.

The separation

The hard fork give anyone ability to build his own blockchain which was share same merkel root with Ethereum. That why Ethereum Classsic was born, they resist to the hard fork ^[4].

At last

• Ethereum no more a blockchain they have two chains share same merkel root
• The concept about The World Computer is dead.Now, we have two world computers running on it selft blockchain
• Ethereum is not decentralized because it was set under control of Ethereum Core.
• Ethereum Core was change the way smart contract execution to save The DAO investor's profit.