Ethereum (ETH) Surpasses $500B, Beats Visa, Crushes Bitcoin Market Dominance Further
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Ethereum (ETH) community members have proposed the creation of a decentralized autonomous organization (DAO) after a community member mistakenly sent 40 ETH worth $8267 at press time, to a wrong address.

The DAO is targeted at refunding users that accidentally sent their funds to wrong addresses, provided the address contains only one or two incorrect character(s).

Ethereum (ETH) User Mistakenly Sends 40 ETH to Wrong Address

The proposal came about after a user with the username daso14, who accidentally sent 40 ETH to a wrong address requested help from the Ethereum (ETH) community members via the Ethfinance subreddit.

According to the user, only one alphanumeric character was mistakenly inputted into the receiving wallet’s address.

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In response to daso14’s complaint tendered on 6th May 2020, a Reddit user with the username conn6614 proposed the creation of a mechanism to recover ETH that is mistakenly sent to wrong addresses.

A follow-up response was made by a Reddit user with the username SrPeixinho on 16th May via r/Ethereum, proposing a lasting solution to a situation whereby one or two mistyped characters will make someone part from his/her hard-earned funds forever.

The user then suggested the creation of DAO, “to refund users that accidentally sent their Ether to the wrong address by 1-2 digits.”

In the course of debating on the developing issue, the community stated that the DAO would comprise a simple smart-contract deployed on mainnet to which ETH would be donated by the community.

The DAO will be made to verify misplaced transactions that contain one or two wrongly placed characters and divert a percentage of the lost funds to users from its smart contracts. This proposal has initiated a notable discussion on Ethfinance subreddit.

Also, Unstoppable Domains such as .crypto and .eth that are increasingly gaining traction, were as well emphasized by other Redditors to eliminate potentially inaccurate typing errors.

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Solomon Odunayo

By Solomon Odunayo

Solomon Odunayo is an accomplished blockchain and cryptocurrency expert at Herald Sheets, known for his in-depth analysis and engaging articles that cater to both beginners and experienced readers. With a degree in Computer Science from the University of Lagos, Solomon leverages his technical background and keen understanding of the crypto space to provide readers with valuable insights and up-to-date news. His passion for innovation and commitment to staying current with industry developments make him a trusted voice in the digital currency community.