[mazieres]

The thing is that reputation isn't formed in a vacuum. E.g., in the case of Stellar's blockchain, you have companies issuing assets like digital dollars or carbon credits or shares in commercial real estate ventures. The tokens have value because people trust their counterparties. Even in the case of XLM, Stellar's "native" cryptocurrency, ultimately people believe it has value because they can trade it for other assets on Stellar's built-in DEX or sell it for fiat currency or other crypto at exchanges. It doesn't matter how many Sybil nodes an attacker creates, if I place Kraken and Coinbase in my quorum slice, I will remain in sync with their validators and know that I can subsequently choose to deposit all of my tokens on those exchanges for trading.