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What prevents entities who can afford to lose the most tokens from establishing what is listed as 'correct'? What mechanisms are there to prevent those with the
by abcc8 8y ago
What prevents entities who can afford to lose the most tokens from establishing what is listed as 'correct'? What mechanisms are there to prevent those with the greatest token number from establishing what is accurate?
- yinyinwu 8y agoTwo parts: 1. Economic - you stand to lose the tokens. Similar to mining on bitcoin, the cost to spam the network is proportional to the value of the network. If there are a lot of users, the value of the token is higher and it will be more expensive to acquire the tokens needed to game the system. Even if you are well funded, this will hurt. 2. Reader disinterest - There is the negative feedback loop where users of the information will stop using the information, and the incentive to game the system will drop.