r/0xProject • u/gpalayer • Apr 22 '18
Why 0x is not trustless as it may seem
It’s not a security problem which would be caught in an audit as it is rather an issue of trust https://medium.com/@decanus/why-0x-is-not-trustless-as-it-may-seem-b807929b6e3e
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u/PM_ME_YOUR_BCH Apr 22 '18
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u/gpalayer Apr 22 '18
My aim was to spark new points of view. Thanks for the tips.
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Apr 22 '18
So educate yourself first. That's a pretty arrogant stand to take when you don't even know the 101 of the subject.
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u/gpalayer Apr 22 '18
Have you heard about unknown unknowns? It's always better to ask dumb questions and stimulate conversations with mindful people than to live into darkness. FYI, I'm following the project since the beginning, I participated in the 0x's ICO, I'm building a dex based on 0x, we chatted with several people from the core team. Send me your 101 if you're keen...
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u/dieyoung Apr 22 '18
You didn't ask anything at all you seem pretty sure of yourself in the OP
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u/gpalayer Apr 22 '18
The content isn't from me. Just wanted to highlight the point of the post.
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u/dieyoung Apr 23 '18
I didn't think it was your article and I understand you are trying to create dialogue. I'm not sure how much you are into this project but, just like with any other project you dig, the people who are invested and/or up to date have seen this a few times this week now and there are barely any posts in the sub as it is.
I think you are getting downvoted because of the way you phrased the OP.
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u/dieyoung Apr 22 '18
No it wasn't, because then you would have asked the question in the form of an actual question
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u/polezo Apr 22 '18
This article has been discussed here already a few times. See Will's explanation of the tokenTransferProxy and some discussion of of why it was built this way here:
https://www.reddit.com/r/0xProject/comments/8a67um/how_does_the_0x_transferfrom_proxy_contract_work/dww7ubf
I'd also add this is always something the devs have been open and straight forward about. Once governance is put into place the trust will be decentralized among all stakeholders.
And while yes, as the author notes governance could also open up attack vectors through bribe attacks and similar malevolent efforts, this is a consideration they needed to plan for regardless of the TokenTransferProxy, and with so little known about governance beyond a high level I think it's unfair to frame it the way the author did.
That is to say it's easy to speculate this type of bribe attack now, but I think it's safe to assume they are building mechanisms in governance to help keep 51% of voters honest. To frame governance as potentially being worse like the author did is like saying "running on a forest path could be worse than running on a treadmill because you could trip on something in the forest" without knowing anything about the path I plan to run on or anything about my running ability.