Grin is currently in research project mode. You can expect Monero to outperform, Monero is tried, tested and used. I think the future is MW, literally the only blockchain architecture that doesn’t rely on storing historical state in perpetuity to guarantee security.
Dash and zcash… Who cares. Monero beat out both of them years ago. They’re irrelevant now.
You’re thinking too small. It’s not about the practicality of storage, it’s about a simple fact: transaction history need not be perpetually kept to guarantee security. Prior to MW, we thought that this was the case. There is no fundamental reason why we need anything more than the UTXOs to guarantee security of the network, MW proves that. That’s what makes it the future.
Another consideration: throughput is constrained by block size in both Bitcoin and Monero. In MW, throughput is constrained by network bandwidth. The entire blockchain is one big block with only UTXOs in it. You can have an unlimited block size and it still only scales with the UTXO set if the nodes can all talk to each other fast enough. You can have unlimited throughput at layer 0 finalized directly on chain.
MW gives us pure money without storing anything about historical state. But it doesn’t give us programmability. Right now we have to store some historical state in order to get programmability, but I see no reason why this is a fundamental requirement, maybe a cryptographer or information theorist around here can correct me there. All we need is that breakthrough and we have the foundation to build the perfect money.
Personally, I think the truth lies in the middle. I think having full history for purchasing coffee is not only wasteful of space clogs the blockchain (imagine 6 billion people adding 3 coffees a day to the block chain over 50 years). My back account keep track of all transactions for a few years and I’ve rarely needed more, but I absolutely do need a transaction history for budgeting and taxes. So a hybrid approach where important or big ticket items have full transaction history (until you ask to prune to a MW), and smaller ticket items can be in smaller MW subaccounts of different categories is the best of all worlds.
Grin is currently in research project mode. You can expect Monero to outperform, Monero is tried, tested and used. I think the future is MW, literally the only blockchain architecture that doesn’t rely on storing historical state in perpetuity to guarantee security.
Dash and zcash… Who cares. Monero beat out both of them years ago. They’re irrelevant now.
@mister_monster @snitchy_asc I had the same skepticism about monotonically increasing blockchain sizes.
I wish I had looked at storage and bandwidth curves a lot earlier.
Long term storage size is no longer a concern I worry about.
You’re thinking too small. It’s not about the practicality of storage, it’s about a simple fact: transaction history need not be perpetually kept to guarantee security. Prior to MW, we thought that this was the case. There is no fundamental reason why we need anything more than the UTXOs to guarantee security of the network, MW proves that. That’s what makes it the future.
Another consideration: throughput is constrained by block size in both Bitcoin and Monero. In MW, throughput is constrained by network bandwidth. The entire blockchain is one big block with only UTXOs in it. You can have an unlimited block size and it still only scales with the UTXO set if the nodes can all talk to each other fast enough. You can have unlimited throughput at layer 0 finalized directly on chain.
MW gives us pure money without storing anything about historical state. But it doesn’t give us programmability. Right now we have to store some historical state in order to get programmability, but I see no reason why this is a fundamental requirement, maybe a cryptographer or information theorist around here can correct me there. All we need is that breakthrough and we have the foundation to build the perfect money.
Personally, I think the truth lies in the middle. I think having full history for purchasing coffee is not only wasteful of space clogs the blockchain (imagine 6 billion people adding 3 coffees a day to the block chain over 50 years). My back account keep track of all transactions for a few years and I’ve rarely needed more, but I absolutely do need a transaction history for budgeting and taxes. So a hybrid approach where important or big ticket items have full transaction history (until you ask to prune to a MW), and smaller ticket items can be in smaller MW subaccounts of different categories is the best of all worlds.