Hello, @Chrisarch
The ethical character of the participants on a blockchain network affects the security component of the technology proportionally. Due to the decentralized nature of blockchain, I can state that there will always be an opportunity for someone to circumvent a blockchain platform’s security, regardless of how advanced it may be.
Since the study of blockchain governance increased after the 2016 exploit of the DAO, I agree with your conclusion that blockchain security characteristics should primarily focus on the motivational properties of blockchain governance. Nonetheless, a player with compromised ethical standards who can game the system will always try to take advantage of blockchain platforms.The characteristic of upgradeability and adaptability can reduce the effects of such an exploit. For instance, It will be possible for the blockchain platform or community to upgrade its functionality by adding or replacing some blockchain components, which makes it more difficult to compromise a platform’s security. While the adaptability component enables quick modification, particularly following a security breach
Suppose the blockchain ecosystem or platform is constructed so that the governance protocol complies with society’s laws and moral obligations. In that case, that could be one method to allay worries about the security aspect of blockchain governance.