Bip300 Monero type sidechain fixes this nostr:note1hgsh8zlw2twc4gj9z5ywtsyw0v0v3l89jpskvj5lejncvyn4ftvq8dwhjs
Discussion
Would still rely on BTC's ASIC's. Zcash port with default privacy might be just as good.
Both. Give users choice. Let them decide. Free market of privacy chains.
Absolutely. Mechanically though randomx, a huge part of the project, cannot be imported to a bip301 sidechain.
I got the impression pretty much any kind of blockchain can be cloned into a sidechain?
Bulletproofs, rings, privacy, all that could be done on a sidechain in the Monero way, the software stuff. But Monero people would still claim Asic reliance in the Bitcoin that backs it is a weakeness.
A future Asic supply chain or hash capture would mean capture of both Bitcoin and the Monero sidechain. Capture in the sense of censoring or disabling the sidechain, not breaking privacy.
RandomX solves a real threat that can't be replicated in a sidechain as described in bip300/1. Anyone can support the Monero network with a basic cpu. They would need an asic to support the Monero sidechain(Bitcoin)
Economies of scale for mining seems inevitable tbh. If everyone adopted monero tomorrow, there will be people who find away to optimise its mining even more efficiently than everyone else.
A common argument against the efforts by the Monero Project.
This is one of the key aspects that make it a community though. The fight against that optimization animates it.
A recent attempt at a randomX asic was torn appart and analyzed by the usual autistics. Some say it was just a sooped up cpu block, others say some minor improvements were developed such being the most dense server rack ever. Work on the next version of RandomX starts as soon as the threat is identified.
The fight itself is driving cpu technology innovation aswell. Optimization for Randomx, if it happens, has broad application outside of Monero in a way optimizing for sha256 does not. At the architecture and hardware level.
I dont enough to comment. I havent really looked into it. Sure is interesting though.
Hope so. Anchoring in Bitcoin blockchain as a privacy airdrop sidechain seems in retrospect the best way for Monero to be more widely adopted.
wihout needing to use a different token. It’s a bitcoin native sidechain.
Why? As an investor I don't like having everything tied to the value of BTC. I am more than happy to have two bags. I permissionlessly convert between those on the fly if I need to. From a UX perspective it's the same as a side chain. From an investor perspective it is far superior to have separate decentralised networks that work independently.
The concept of risk management and hedging seems not very prominent within the maximalist crowd. It's a huge blind spot.