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Proof of Stake, Decentralized Governance and Flash Attacks
The famous premise of “Code is Law,” along with many of those who acclaim it, falls apart when we remember that human nature is both clumsy and often malicious.Code is created by programmers who, being human, can make mistakes. If there is one thing that TheDAO¹ left us with as a moral, among many other things, it is that those errors or “bugs” can be very costly for the community and the whole industry.As we said, in addition to being clumsy, it can be malicious. The mischievou