Coinbase Co-Founder Opposes Ethereum Hard Fork

Jun 24, 2016 at 12:51 // Blockchain
Author
Nina Lyon

Fred Ehrsam, co-founder of the cryptocurrency exchange operator Coinbase, cautioned against Ethereum hard fork development and changes to the Blockchain code on the platform.

Last week the DAO, a distributed autonomous organization based on the Ethereum Blockchain, faced a massive hack attack. To escape any possibility of future attacks and similar scenarios several options were offered in the cryptocurrency community. One such option is a hard fork that would potentially reverse actions taken by the attacker.

In the interview with CoinDesk, Mr Ehrsam said:

"We should learn to live with those mistakes because people will write poor smart contracts in the future and we can't fork each time." 

However, Ehrsam said that he believes in the strength of Ethereum and its digital currency Ether (ETH). In May 2016 Coinbase added ETH to its GDAX exchange.

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