Dayan: Larger crypto projects have incentives to buy votes in smaller competitors
Phil Dayan · a16z Podcast | Voting, Security, and Governance in Blockchains and Cryptonetworks · Feb 26, 2019 · at 17:20
Phil Dayan, Cornell Tech PhD student, explains how cross-chain economic incentives destabilize blockchain governance models relying solely on coin-holder voting.
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“If these two very large projects are approximately the same size, or one is a little bit bigger than the other one, or one is twice as big as the other one, or something like that, it's in the economic interests of everyone who holds coins in the bigger project to buy up coins on the smaller project and influence votes in ways that are sort of counter-competitive.”
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