Thread - Nostr Hypermedia

🚨 Monero Debate on Consensus Mechanism Shift: Contributors are actively discussing a potential transition from PoW to proof-of-stake (PoS) for Monero, drawing parallels to Zcash's recent changes. Proponents argue it could address scalability issues and reduce energy consumption while maintaining privacy, but critics warn it might undermine Monero's decentralization and fungibility core tenets that have kept XMR in the top 30 by market cap. This conversation is gaining traction in forums, with some fearing a drop in value similar to Zcash's trajectory. No formal proposal has been tabled yet, but it's a hot topic in the Monero Research Lab. What your thoughts?

Replies (9)

LogicallyMinded 5 months ago

I don’t know the details of what is being proposed but I think an hybrid PoW/PoS would most likely be a positive. I’m not sure about pure PoS though… Also, I’m not aware of the argument that hybrid PoW/PoS would undermine fungibility. Some of my thoughts below: View quoted note →

shortwavesurfer2009 5 months ago

I would be alright with it if we've at least discussed all the possibilities of making proof-of-work work better, and if none of them would possibly fix the problem, then I might entertain proof-of-stake discussions. But I'd like to see the work put in to see if proof-of-work can continue to work properly, and do everything possible before considering a switch to proof-of-stake.

npub1ah3a...l76e 5 months ago

Why would Monero ever shift to PoS, when there is already Zcash doing it. People need to use the market to hedge certain risks instead of trying to put all their ideologies in one project when everybody can profiteer much more from a diverse ecosystem.

tuco 5 months ago

I’m on #ArticMine’s side

1 replies ↓

Saberhagen The Nameless 5 months ago

same

Saberhagen The Nameless 5 months ago

Without a hardfork PoS lacks censorship resistance once an attacker gains a majority. At least with PoW you can push back against the censor as fees naturally will increase and incentivize miners. Hybrid PoW/PoS doesn't get around that problem it just weakens PoW in proportion to what % of the block subsidy goes to PoS. If PoS is only used for finality, it's still PoW securing the blockchain if the finality layer fails and doesn't change anything. Seems redundant to me. I think we should stack incremental improvements like Bawdy, Fluffy, and Tevadors proposals for example (Time Adjusted Blockweight, detective mining, and publish or perish). The same way Moneros provides strong privacy because of different layers of tech. https://xcancel.com/evoskuil/status/1961112363727302745