# kaal:claim:3125827-035

**Claim.** Because each sem token carries a different value depending on the post that minted it and on its position in the reference graph, the total value is difficult to determine, which makes it almost impossible to execute a 51% attack by purchasing tokens on an exchange.

**Type.** mechanism  **Support.** argued

**Holds when.**

- token value derived from position in the forum WDAG
- most tokens constantly in use and continually created

**Source quote.**

> their value is difficult to determine since each token has a different value depending on the post in which it was minted. So it is almost impossible to execute a 51% attack by purchasing tokens on an exchange.

**From.** Craig Calcaterra, Wulf A. Kaal, *Secure Proof of Stake Protocol* (2018), 6 Analysis, page 26

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

**Verify.** sha256 of source PDF `598d9bd95e4af7a0a35328677c6bfc069f69f2e32c30c720b3a0be98a23a40cb` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Calcaterra%20and%20Kaal%20-%202018%20-%20Secure%20Proof%20of%20Stake%20Protocol.pdf

**Topics.** consensus-and-security, tokenomics, economics

**Keywords.** 51-percent-attack, fungibility, sem-tokens, wdag, token-valuation

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.