By Steve StecklowAnna Irrera 2 Min Read Cryptocurrency investors and developers listen to a panel discussion at the Ethereum Classic Summit, in Hong Kong, China November 14, Picture taken November 14, Thomson Reuters, the parent company of Reuters News, is part of the Enterprise Ethereum Alliance, a group of companies looking to use the technology to run business applications.
In April and Mayan online fundraiser was held on the ethereum blockchain in which participants were promised a new cryptocurrency called a DAO token that could be used to fund ethereum projects.
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Contributors could share in any profits. The fundraiser proved to be a disaster.
But a hacker exploited a software flaw and stole about a third of the new DAO tokens. The idea was to make the stolen tokens worthless and enable contributors to receive refunds.
On July 20,the do-over took effect. The Invest in ethereum business project was abandoned. The old blockchain was supposed to die.
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A small part of the ethereum community continued to use the old blockchain. Critics of keeping the old blockchain alive say it allows the hacker potentially to sell the stolen cryptocurrency.
It remains unclear whether that has occurred. Editing By Richard Woods.
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