The suggestion to 'roll back' the Ethereum blockchain in response to a significant hack on Bybit has generated widespread criticism within the Ethereum community. Major figures, including Arthur Hayes, co-founder of BitMEX, questioned Ethereum co-founder Vitalik Buterin about the possibility of advocating for such a rollback. However, the response from the community was overwhelmingly against this idea, citing the core principles of decentralization that underpin Ethereum. A rollback would undermine the fundamentals of the network, as it relies on an account model where users hold ETH. Historically, when the DAO hack occurred, Ethereum implemented a hard fork as an 'irregular state transition,' which allowed the network to move forward without actually rolling back past transactions. The Ethereum community is firmly against any modifications that would change past transactions or the rules governing the network, affirming that such actions would negate the purpose of Ethereum itself. The situation illustrates the tension between addressing major security breaches and maintaining the integrity and decentralized nature of blockchain technology.

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