We already know many are against the idea of changing the 21M ZEC supply. Good and fair, no need to argue against it on this thread meant to discuss potential alternatives.
We know that Zcash, like Bitcoin, has a looming issue: funding security. Today, things are mostly fine, as block rewards are sufficient to compensate for this task. There’s just no plan for the future of this critical aspect.
Fundamentally, we need a solution that does not alter the most important aspects we are expecting from ZEC:
- Store of value: ZEC is failing if over the medium/long term, it is not holding up to inflation.
- Mean of exchange: ZEC is failing if users cannot exchange their tokens for a low fee.
- Unit of account: we good.
That’s the base of money / cash, right. Zcash is supposed to be at least that. Now on top of it, our thing is that it has to be electronic and private. Electronic is pretty clear and done. Private can be a little more nebulous if we look closely, but the general idea is that only ZEC holders should be able to know what goes in and out of their wallets, unless they have specifically consented otherwise.
Alright, so those are fundamentals we really cannot touch if we really want to be:
Again in this thread, we do not hold the 21M max token supply as sacred, as we try to be constructive about realistic alternatives.
Ok, we’ve clarified that, nice.
Now, could we have something dynamic like Ethereum has? More generally, has anyone with cryptoeconomics chops suggested anything relevant for Bitcoin or Zcash that we could use here?