Proof-of-stake networks are communal organisms that resist takeover
I Moderated A Panel at DCENTRAL Austin 2022 on Decentralized Cloud! (MineYour.₿iz Classic)
“What’s going to prevent a bad actor, let’s say Amazon, to buy up all the tokens and take over Akash Network? … proof of stake systems are inherently communal organisms… a bad actor trying to buy up all the tokens — that’s going to increase the price of the token, thereby further strengthening security… people can fork it and start a new one… the community will always come through before an attack can happen, and there are also preventive circuit breakers — we have like a 21-day unbonding period for that very reason.” — 00:24:57
Context: Prompted by a question on adversarial attacks; illustrated with his Terra story — an outsider with “very little voting power, very little clout” passing a proposal via Twitter to re-enable IBC [00:26:22].