It’s cool that they’re moving away from Ring Signatures, but something feels off.
It’s like the ship of Theseus. They’ll change out any part so long as their bags remain the same.
Makes me think that there is more investment in their unfair emission than I realized.
Maybe but these are really cool and I’m glad they keep doing their research and their work
While Monero’s emission rate was very steep in the beginning, there is also some evidence that the most successful miners of it weren’t hoarding, though obviously it’s impossible to validate and always best to assume the worst.
That said at this time Monero is the arguably the only cryptocurrency whose demand is emergent from its use-case (private storage and transfer of value) rather than from its performance as a speculative vehicle. The upcoming FCMP upgrade will fix its greatest technical weakness which was the statistical modelling necessary for the decoy selection algorithm to populate ring signatures. This is a substantial step forward for cypherpunks everywhere, and should be applauded even if we are also correct in criticizing its emission policy.
It’s not about bags. Monero has a mission: fully private, fungible electronic cash. They’re not ideologically married to any set of technologies, they’ll implement anything that furthers that goal as long as it is secure and doesn’t harm any factors to achieving that goal. If the ship sails better with the upgrade it doesn’t really matter to the Monero community if it’s made entirely of new parts or not.
That’s not even among what i see as its 4 greatest weaknesses:
By technical weakness I meant more in its privacy schema. I’m not certain but would the second point remain valid in the FCMP++ design? My understanding is that the TXO set would not need to be retained indefinitely anymore once using their curve trees, although I have little knowledge of the specifics.
I see the emission as being an economic weakness rather than a technical one, and agree re chainsize and code complexity but am not sure those are as great weaknesses at the moment in comparison to some of the chain analytics that are possible such as the Eve-Alice-Eve attack. The complexity issue is being brought up more frequently in context of their recent work, and tbh may only increase in their proposed Seraphis upgrade.
That’s because there is only one development team and the Monero culture is to trust them 100%.
It makes for a good product, certainly.
This isn’t true anymore, there is a recent effort to rewrite monerod in Rust called Cuprate. While it’s still in early stages and has a much smaller development group than the reference implementation, multiple contributors to Cuprate are receiving CCS funding and engaged in the core monero development channels.
That’s great! Where would you go to follow news and information like this? Never heard one thing about it and I follow monero very closely.
I forget exactly where but I follow RSS feeds for the Monero Moon, the Monero Observer, and Monero Revuo which are the three main news publications, so probably there.