Well
Since ZEC is a special interest coin, there is nobody ho can answer this question except the high horses who are too big for us little people so ZEC will surely fall in the same ways BTC would.
ZCL nobody in the ZCL ANN thread would answer this so I do not know what they plan to do long term. There is also ZCoin which is pretty much ZCash but works better. Do not know if any of these will make the needed updates down the road
Topic: Is ZEC going to experience the same problems as BTC? (Read 537 times)
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edit: wait 8x the capacity of BTC? So that means it is 2MB with a 4x faster block time?
edit: wait 8x the capacity of BTC? So that means it is 2MB with a 4x faster block time?
Yes. The can has been kicked 8x further down the road. This provides that much greater opportunity to sell to a greater fool.
Very pessimistic view of something that should be a good thing with no real explanation....
I noticed your profile says Monero Core Team on it so I decided to look through your post to see if you tend to just go and trash other coins in general. I actually found something that elaborates why fixed block size is a problem which would have made a better discussion than your last post
https://bitcointalksearch.org/topic/m.17723519
So in short, fixed block sizes will always keep the possibility for people to attack and congest the transactions on the network? For as long as transaction fees remain, these transaction spam attempts will be costly to attackers and if BTC or ZEC could implement LN or something like it than this would not even be a problem anymore.
As for how XMR is different, that is another topic.
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edit: wait 8x the capacity of BTC? So that means it is 2MB with a 4x faster block time?
edit: wait 8x the capacity of BTC? So that means it is 2MB with a 4x faster block time?
Yes. The can has been kicked 8x further down the road. This provides that much greater opportunity to sell to a greater fool.
Yes it will. It has the same underlying fixed blocksize and falling block reward design as Bitcoin.
Due to block time, the block size is as effective as if it were 4x larger. BTC could up the block size through SegWit and I do not know if ZEC is able to make that type of change or not. I believe that BTC will update the block size whenever the need arrives to keep it alive so I do not consider the block size a problem in the long run vs. the block time more so. ZEC does better at that part
Fixed block size and falling block rewards are not things that makes me think either coin will fail. I am more concerned about how ZEC development will progress
edit: wait 8x the capacity of BTC? So that means it is 2MB with a 4x faster block time?
Yes it will. It has the same underlying fixed blocksize and falling block reward design as Bitcoin.
Edit 1: Provided of course that it were to succeed as a crypto currency and have enough transactions to fill up it fixed blocksize, which is effectively maxed out at 8x the capacity of Bitcoin.
Edit 2: This problem is not unique to ZEC. Any coins that copies Bitcoin's fixed blocksize and falling block reward design have this same issue.
Edit 1: Provided of course that it were to succeed as a crypto currency and have enough transactions to fill up it fixed blocksize, which is effectively maxed out at 8x the capacity of Bitcoin.
Edit 2: This problem is not unique to ZEC. Any coins that copies Bitcoin's fixed blocksize and falling block reward design have this same issue.
I have been wondering this from the beginning of ZEC since it is geared to be like a BTC 2.0 in some ways
At the moment BTC has a problem with adopting SegWit. Even after that BTC will eventually meet higher network demands and eventually Lightning Network will be needed to step up the transaction times to make it viable as an alternative to regular currency, otherwise it will only be a store o wealth and secondary currency. The BTC community will probably never do the LN update since it would change the nature of BTC and could result in a fork.
Now I am wondering how will ZEC step up when BTC hits its potential? One thing ZEC has going for it is the block time is 2.5 minutes instead of 10. I tried looking for discussions of how ZEC would develop past any issues that would hold it back from wide scale adoption. These are the kinds of topics that ultimately determine if ZEC has enough going for it to overtake the BTC first movers advantage and if I at least will look at ZEC as a pump and dump coin or something worth mining a bit to hold. I also wonder how ZCL will go in these directions and if they will do what is needed to progress if ZEC will not.
At the moment BTC has a problem with adopting SegWit. Even after that BTC will eventually meet higher network demands and eventually Lightning Network will be needed to step up the transaction times to make it viable as an alternative to regular currency, otherwise it will only be a store o wealth and secondary currency. The BTC community will probably never do the LN update since it would change the nature of BTC and could result in a fork.
Now I am wondering how will ZEC step up when BTC hits its potential? One thing ZEC has going for it is the block time is 2.5 minutes instead of 10. I tried looking for discussions of how ZEC would develop past any issues that would hold it back from wide scale adoption. These are the kinds of topics that ultimately determine if ZEC has enough going for it to overtake the BTC first movers advantage and if I at least will look at ZEC as a pump and dump coin or something worth mining a bit to hold. I also wonder how ZCL will go in these directions and if they will do what is needed to progress if ZEC will not.
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