05-01-2022, 05:42 PM
The Cosmos community just voted to seize crypto from a Juno-whale. This is a major m
<!-- SC_OFF --><div class="md"><p>The cosmos, Juno blockchain community has now voted to seize nearly all of coins from a Juno-whale that supposedly got then through an illicit way. This is a major move in decentralized governance and the first time that a community has voted to influence user balances.</p> <p>This is both good and bad. The obvious bad things is that this kind of is not decentralized at all as a blockchain is technically capable of just seizing tokens whenever they want.</p> <p>But the good thing is that people that manipulate the system by illicit activities can be brought to justice. In this case the whale was part of a group, where everyone was staking ATOM to get Juno through the aridrop. As they all got it and the whale transferred it all to his wallet afterwards. He had a total 10% voting rights afterwards. That's definitely not decentralized too.</p> <p>This just shows another decentralized trilemma. We can not be decentralized if the blockchain has too much power over us. But if they don't have many would use Grey zones to manipulate the system.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/partymsl"> /u/partymsl </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/uffxac/the_cosmos_community_just_voted_to_seize_crypto/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/uffxac/the_cosmos_community_just_voted_to_seize_crypto/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>The cosmos, Juno blockchain community has now voted to seize nearly all of coins from a Juno-whale that supposedly got then through an illicit way. This is a major move in decentralized governance and the first time that a community has voted to influence user balances.</p> <p>This is both good and bad. The obvious bad things is that this kind of is not decentralized at all as a blockchain is technically capable of just seizing tokens whenever they want.</p> <p>But the good thing is that people that manipulate the system by illicit activities can be brought to justice. In this case the whale was part of a group, where everyone was staking ATOM to get Juno through the aridrop. As they all got it and the whale transferred it all to his wallet afterwards. He had a total 10% voting rights afterwards. That's definitely not decentralized too.</p> <p>This just shows another decentralized trilemma. We can not be decentralized if the blockchain has too much power over us. But if they don't have many would use Grey zones to manipulate the system.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/partymsl"> /u/partymsl </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/uffxac/the_cosmos_community_just_voted_to_seize_crypto/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/uffxac/the_cosmos_community_just_voted_to_seize_crypto/">[comments]</a></span>Kind Regards R