Topic: Will it be possible to prevent monero mining centralization? And if so, how? (Read 101 times)
May 29, 2021, 06:10:32 PM
You see the situation from the pool curtain. Thanks for sharing your perspectives. I believe that behind the apparent decentralization of pools, there are fewer mining farms than ever. Otherwise, how could they even conspire to censor/block so called tainted txs?
May 28, 2021, 09:04:22 PM
Years ago when a pool was bumping up against the 50%+ hasrate of BTC mining, all of a sudden large numbers of miners left. People were worried about the possible consequences of the large amount of hashrate at one pool.
It has happened to many other coins over time. The better / larger coins tend to have people move their miners on their own. Sometimes people need to be poked a bit to have them move it.
-Dave
It has happened to many other coins over time. The better / larger coins tend to have people move their miners on their own. Sometimes people need to be poked a bit to have them move it.
-Dave
May 28, 2021, 07:59:16 PM
Do you think XMR mining can structurally (trustless) stay decentralized?
Nobody knows if it can stay decentralized in the long run. Last month Minexmr.com pool had more than 45% of the network's hash rate Today it's down to 38% but even then If minexmr.com was to control 51% of the network's hash rate. It's just a mining pool consisting of different miners. So if they wanted to attack the network as a pool, I think to would not be possible ( some miners would obviously avoid the dubious act). I think it would only be possible if the power was controlled by one miner. So as of now, so long as there as so many miners, the network is decentralized.
May 28, 2021, 03:37:51 PM
https://miningpoolstats.stream/monero
I do not understand what you are talking about. If one pool has more than 51% hash rate, then it will be able to perform 51% attacks on the coin, but this pool will not be able to manage other transactions.
Centralization means managing someone else's transactions, or at least blocking addresses. While this is not possible in the Monero blockchain.
I do not understand what you are talking about. If one pool has more than 51% hash rate, then it will be able to perform 51% attacks on the coin, but this pool will not be able to manage other transactions.
Centralization means managing someone else's transactions, or at least blocking addresses. While this is not possible in the Monero blockchain.
May 28, 2021, 08:16:25 AM
I hope it's the appropriate sub for this essential question.
Do you think XMR mining can structurally (trustless) stay decentralized?
I am particularly comparing to btc... and what makes me afraid, is that what can trustlessly prevent TPTB from buying 100's of thousands of cpus, boards, rams and launch themselves to own the pow network like they did to btc?
Censored or blacklisted transactions and address, destroying the fungible nature of currency, possible through hashing control.
One of the thing that drawn me to cryptos was decentralization, hoping that it would help in the coming war against digital financialized surveillance fascism...
Maybe all digital decentralized ledgers will end up being centralized?
Please give me some hope and more interesting what to do?
Thanks in advance.
Do you think XMR mining can structurally (trustless) stay decentralized?
I am particularly comparing to btc... and what makes me afraid, is that what can trustlessly prevent TPTB from buying 100's of thousands of cpus, boards, rams and launch themselves to own the pow network like they did to btc?
Censored or blacklisted transactions and address, destroying the fungible nature of currency, possible through hashing control.
One of the thing that drawn me to cryptos was decentralization, hoping that it would help in the coming war against digital financialized surveillance fascism...
Maybe all digital decentralized ledgers will end up being centralized?
Please give me some hope and more interesting what to do?
Thanks in advance.
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