kaal:claim:3125827-019

Any blockchain whose soft forks are decided through private communication between famous token holding whales is ultimately less secure than legacy centralized systems, which at least address centralized security risks deliberately.

Source quote, verbatim

Any blockchain subject to such governance is ultimately less secure than legacy centralized systems which pointedly address centralized security risks.

From

Craig Calcaterra, Wulf A. Kaal, Secure Proof of Stake Protocol (2018), 2.2 Soft attacks, p. 11
https://ssrn.com/abstract=3125827 · source PDF

Cite as

Craig Calcaterra, Wulf A. Kaal, Secure Proof of Stake Protocol (2018). SSRN: https://ssrn.com/abstract=3125827

Holds when

off chain governance conducted privately among large holders and developers

Classification

failuresupport: arguedfailure: whale-mediated-governancefamily: plutocratic-captureblockchaingovernance-designconsensus-and-securitydecentralization

Related claims

extended_by kaal:claim:3441904-040 On chain governance is a necessity for most public blockchains because all existing blockchains need to calibr...

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