I always thought that tokenization is one of the most interesting concepts in blockchain. Basically, tokenizing means issuing a token that are linked to a real-world asset. The link can probably be implemented in multiple ways but if I understand the legal context properly, the primary way is a regulatory framework. I will definitely be doing more research into this, but first I wanted to create something of substance that I could use as a point of departure. I went with my first idea which is short-time rentals.

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I was trying to come up with an idea for a short program in Rust that would help me systematize some things that I've already learned and wouldn't be a basic primer. I've decided to refresh my memory on some Elliptic Curve routines, specifically, adding points on EC. This way I am able two kill two birds with one stone, if you excuse my double avicide.

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In 2017 the news about a successful hacker attack on the Parity wallet emerged. The Parity wallet was a Smart Contract wallet that could be used for managing cryptocurrency funds. The attacker took over the control of the Smart Contract and transferred all of the currency deposited in it to his account. The damage has been estimated at USD 30M and the hack prompted waves of negative responses from the public.

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Why was this possible?

The developers of the Smart Contract code were using a proxy that was delegating calls to the current main implementation. This kind of proxy functionality is a common way of implementing upgradeability for contracts. Any call to the proxy contract itself that does not match existing function's signatures is being forwarded for execution within the proxy context via the Solidity's delegatecall instruction.

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