Edgeware’s Lockdrop smart contract has processed over $900 million of ETH and locked up over $290 million, all while hiding a fatal bug.

If you participated in the lockdrop you need not worry — your funds were never at risk, and after I reported the defect it was fixed — but what was the bug and what lessons can we learn?

The Edgeware Lockdrop

The Edgeware blockchain platform will have a native token called EDG. Rather than sell EDG to the highest bidder, or airdrop them to all and sundry, the generous folks over at Edgeware HQ have opted to give 90% of them away to holders of Ether (ETH) who ask nicely¹, via a process they’re calling a “lockdrop”. …

About

Neil M

Full stack and smart contracts. Opinions my own. For gigs or consultancy, contactable via https://www.linkedin.com/in/neil-mc/

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