One attribute that #Monero lacks to make it a perfect medium of exchange is fast ...

LogicallyMinded

npub1s0f…rqf5

2024-08-30 18:32:16

One attribute that #Monero lacks to make it a perfect medium of exchange is fast finality. Although this isn’t so much a problem for online transactions, it is definitely an issue for in-person transactions. As far as I understand this can’t be solved unless Monero switch to #ProofOfStake or at least to an hybrid #ProofOfWork / POS like #Zano did. Another example of hybrid POW/POS is #eCash which is a fork of #BitcoinCash (by the founding #BCH team). By mixing the #Nakamoto consensus with the #Avalanche consensus, eCash can reach sub three seconds finality while guaranteeing a the integrity of the chain history without the need of a trusted third party. Considering the fair launch of #XMR, it seems very possible for the Monero #blockchain to implement POS to its consensus without risking the chain from being corrupted.

What do you guys think are the pros and cons as well as the feasibility of the such an upgrade? It was a hot topic at the past #Monerotopia. The decision for the Zano team to move to POW/POS was mainly motivated for security reasons but from my perspective a greater benefit for Monero would be a much improve user experience for in-person transactions. By the way I don’t know if that’s a factor, but Zano has been a great performer price wise.

#crypto #XEC

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npub1s0fs9dwztm2rukm42vh6df4a5gwykclf75tgyeuc75t0cs2eh8rsu2rqf5

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2024-08-30 18:32:16

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