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Better security with IELE

In this video, Lars Brünjes explains the decentralized autonomous organization (DAO) attack on Ethereum and shows that the same attack would not work against IELE, which has been designed from the ground up with security in mind.

In the attack of June 2016, 3.6 million ETH were lost. It exploited a ‘recursive calling vulnerability’, so the attacker was able to call a function many times – taking out ether each time – before the smart contract could reduce its own balance.

In IELE, a call to external contracts is not implemented and so the vulnerability is impossible.

Last updated: May 1, 2020 08:00 UTC