Rollbacks in blockchain explained
In blockchain, a rollback refers to reversing its history to counter a disastrous event, such as big hacks threatening to disrupt the ecosystem, the discovery of critical protocol bugs or centralization risks of network integrity.
The Bybit hack, which resulted in a staggering $1.46 billion loss, has triggered a demand regarding a rollback of affected transactions on Ethereum.
In a Feb. 22 X Spaces, Bybit CEO Ben Zhou adopted a more neutral position when asked about supporting an Ethereum rollback.
“I’m not sure it should be a decision made by one person. In line with the spirit of blockchain, it might be better to have a voting process to determine what the community wants, but I’m uncertain,” Zhou said.
Still, Jan3 CEO Samson Mow commented in a Feb. 22 X post: “I fully support rolling back Ethereum’s chain (again) so the stolen ETH ($2,938.95) is returned to Bybit and also...
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