OK, in my answer I take it that you have some knowledge of blockchain technology and how DPOS works. Here are some simple security issues to consider:
Scenario 1:
- SPK network and its users put money (tokens) into the PPY side-chain
- unknown PPY witnesses (collude and) change the blockchain code, steal user's tokens, sell them and disappear
Scenario 2:
- bad actor buy a lot of worthless PPY token
- it then votes for its own witnesses to get a supermajority
- it then applies scenario 1
Doesn't Scenario 2 remind you of something?
And there are still other possible scenarios like all current (unknown to me) witnesses being already controlled by one entity.
Am I paranoid? Yes! But when it comes to security, paranoia is a must.
So it relies on PPY token? I thought it would be a fork or something.
Yes, up to now it relies on PPY, hence my concern about security