After much debate and weighing of options by developers and the Ethereum community, the Ethereum network successfully completed its first hard fork on on July 20. The fork effectively reinstated The DAO code back to the point before an attack was launched on June 18 to drain approximately 12 million ether into a child DAO.
However, even after the hard fork was successfully completed, reactions from experts and the community remain divided. Some entrepreneurs, startups, and developers including Coinbase CEO Brian Armstrong believe the Ethereum hard fork proves the feasibility and practicality of hard forks, while others are concerned that the hard fork contradicts the concept of decentralization which the Ethereum network, community, and foundation claim to stand for.
“Ethereum’s website has long loudly advertised (even louder than Bitcoin materials): ‘Ethereum is a decentralized platform for applications that run exactly as programmed without any chance of fraud, censorship or third-party interference.’; and all that goes out the window when a service using the system suffers a highly predictable fault from a well known class of vulnerabilities?” stated Bitcoin Core developer Greg Maxwell (nullc).