kaal:claim:3125827-033

If the bench institutes protocols for rejecting applicants through the validation pool, it gains both the incentive and the opportunity to block all new users entirely, so that existing bench members keep sharing all the fees among themselves.

Unfortunately this gives the incentive and opportunity for existing experts to completely block all new users, so the existing bench members share all the fees.

Craig Calcaterra, Wulf A. Kaal, Secure Proof of Stake Protocol (2018), 6 Analysis, p. 22
https://ssrn.com/abstract=3125827 · source PDF

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

• bench adopts admission screening for new experts

failuresupport: arguedfailure: incumbent-bench-closurefamily: governance-participation-collapseregulatory-failuredecentralization

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