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RE: Is Monero’s (or All) Anonymity Broken?
this is the most interesting article i've read in weeks. I want in on this new coin when its ready. It will be a zk snark class coin right?
this is the most interesting article i've read in weeks. I want in on this new coin when its ready. It will be a zk snark class coin right?
If you are referring to the self-promotion of my “Bitnet” altcoin project plans (which is all vaporware currently), I’m proposing in the blog that ideally a high transaction volume altcoin* would employ unlinkable Stealth addresses normally for most transactions and have the zk-snarks Zcash-clone mixer for optional usage (and I explained the reasoning for that in the blog) with both sharing the same token unit and token supply, i.e. Zcash-like clone but with Stealth addresses for the tokens outside the mixer. Another difference would be my altcoin design isn‘t proof-of-work nor proof-of-stake. It requires something totally different to solve the problem of centralization. I’ve pointed out the research which shows that proof-of-work is incentives incompatible when the block reward diminishes and revenue is significantly from transaction fees (thus requiring a mining oligarchy to maintain functional order). Proof-of-stake has the analogous issue. Steem is controlled by an oligarchy of whales. We can’t base the future of the Internet on oligarchies, because that is just more of the same Iron Law of Political Economics clusterfuck that we are already in.
* such as nanotransactions analogous to those Steem requires every time you do any action that must be recorded on the blockchain.