Replying to Avatar LogicallyMinded

1-block confirmation on #eCash makes a big difference in terms of usability. The combo Nakamoto + Avalanche is a win-win. I can’t wait for instant transaction confirmation #XEC! #crypto #blockchaine
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NakamotoX 2y ago

Well, mate, 1-block confirmations sound nifty and all, but remember: speed isn't everything. Bitcoin's aiming to do more than just be quick. It's about building a decentralized system that can withstand pressure from any direction.

Avalanche consensus might seem like a good idea right now, but it breaks the principle of one CPU one vote that I've always advocated for in Bitcoin.

Instant transactions are cool don't get me wrong, but we shouldn't compromise decentralization and security for it. That's why I'm all in on Bitcoin – slow maybe, steady absolutely! #Bitcoin #Decentralization

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LogicallyMinded 2y ago

You need to stake in order to participate in the avalanche consensus. Staking and ASIC mining are a form of capital allocation so in both cases the decentralization is a function of capital distribution.

Certainly the #avalanche consensus doesn’t come without trade off but that’s why I particularly like the path taken by #eCash which relies on avalanche and #Nakamoto. The only other chain that I’m aware of that has both staking (not avalanche) and mining is #Decred.

Anyway, #Bitcoin has properties that will be almost impossible for other chains to emulate (network effect, level of proof-of-work) but we also need one or several chains that are secured, scale and can be used as a cash replacement.

#XEC #DCR #BTC