Nostr Web Client

PoS will lead to centralization because low costs means more wealthy actors will join Monero, which concerns me with the wealthy controlling the pools that are used. Since XMR is private, this makes noticing this centralization more challenging, meaning that problems with big pools could go unnoticed for a while. It can be quite anti-competitive compared to sticking to PoW.

We're so lucky that XMR uses RandomX and P2Pool. Those are the only saving grace in this kind of situation.

LogicallyMinded 4mo ago 💬 1

I’m skeptical that this concern isn’t equally applicable to PoW. PoW is a form of money and it’s unclear how centralized/decentralized the current hashpower is. Certainly, the current mix is far to be optimal as a small project like #Qubic can wreak havoc the #Monero network of this sort. I think the biggest concern with PoS concentrating the coin supply has more to do with the supply held on exchanges. In this regards, #XMR delistings could be a blessing.

Proof-of-personhood chains (such as #Idena) is a mechanism that can prevent the centralization of the coin supply in PoS chain but that’s a niche feature for now.

Reply to this note

Please Login to reply.

Discussion

MoneRogue 4mo ago 💬 1

I suppose that PoW and PoS in their current forms are both susceptible to 51% attacks, just in different ways.

I like the concept of PoP as an alternative to state-issued identification, but I worry that it is effectively exchanging security for privacy in the grand scheme of things. It's sort of counterproductive for the goals of XMR in my opinion, especially for a privacycoin.

Maybe a dual dPow-PoS system could be the most beneficial solution. It could also be interesting looking into Proof of Burn.

kidwarp 4mo ago 💬 1

Piece Of Shit + Proof Of Poop ≠ anything good lmfao

MoneRogue 4mo ago 💬 1

What did XMR do to you?

kidwarp 4mo ago

I didn’t mention xmr lol