This is a story about an exchange
It has 33% of all lisk. It has 101 votes. It votes for 101 of it's 1 lisk wallets.
Everyone else is fucked.
Discuss
Exchanges do not use any of the current crypto wallets with funds to vote or to stake coins.
If they do this, it would not be considered an exhange anymore and could be liable for huge legal repercussions.
With all due respect, relying on an exchange to obey the laws of some arbitrary jurisdiction is a pretty weak argument. What if they operate in Somalia where there is no functional government?
the fact is that the exchanges cant have all the nodes because they would have to be voted in by the people. Gawd your Fkn stupid.
The exchange would have enough of the money supply to control all the delegates. They wouldn't need votes from the people.
If they control delegates proportional to their holdings, that's one thing. But with delegates, they don't even need a majority if the rest of the vote is split.
There is nothing in the protocol to prevent full control by a minority holder. No other blockchain security system has this sort of weakness.
Dude, if that happens they could just get kicked off the delegate list and a new person gets a chance. Fucking turd.