All that you wrote is trends. In the end, it will happen that way.
More evidence with a disposition against the climate alarmism. The Ex-President of Greenpeace exposes the secrets of the politically motiviated climate claims made in policy set forth by the Paris Accord.
āThe Scientists are hiding behind the politicians, because that is who funds themā - Patrick Moore Co-Founder & Ex-President of Greenpeace
āThey are not scientists claiming there is a climate emergency, they are political activists⦠They are really really stupid and badā - Patrick Moore Co-Founder & Ex-President of Greenpeace when asked about Extinction Rebellion
How would something like this impact our plans to move towards POS?
Ignoring the climate argument, good PoS design is multiple times more accessible to the masses than PoW with centralized production (easily seized by nation states) of specialized hardware (with clear advantage for the rich few).
Do you have any details how pos would work in zec ?
like what i need to do for staking ?
(minimal number of coins for minting\nodes or master nodes support\ etc)
or any ETA for this ?
no minimum stake. you will use wallet on tor browser or zecwallet fullnode. everyone in this world who using tor browser can stake zcash. 21 million of zcash stake in this world. imagine the price should be.
Welcome to the forums @isxaker , the details as far as timeline are in the blog. As far as the specifics for staking and validators, itās still being worked out.
Wait, what?
Ziga brings up a very good point. If ZEC switched to PoS in 3 years, thatās well before 21M coins will have been minedā¦?
How does emission/distribution work after the switch to reach 21M?
I believe the network and token dynamics need to be worked out following the launch of Halo 2.
Iām particularly interested in the minimum ZEC required to run staking nodes/validators, the minimum ZEC required to earn rewards in wallets and the % rewards & time-frame of emission curve from the beginning of hybrid-POS to full PoS when all 21M ZEC are issued.
Iāve been wondering the same thing ever since ECC releases the brand new roadmap. Zcash has a social consensus/expectation that the number of ZEC will be capped at 21M. However, there are questions of the viability of such plan (capped emission) and it has nothing to do with PoW/PoS, Bitcoin will have the same problem in the relatively far future.
There is perhaps an ideal future where we will have billions of daily transactions on Zcash and transaction fees would suffice as reward for PoS validators. The biggest problem I would see here is that the reward will be very unstable which would compromise the security.
Whatever the distribution rules, I assume that the current emission curve would be preserved, and thus the current halving schedule would be preserved too.
I wouldnāt assume the same. There is an expectation about 21m ZEC cap but not specific emission curve. Halving on PoS is unheard of (cmiiw). If anything, the number of new ZEC emission should depends on number of ZEC staked.
Otherwise, it implies a loss of confidence in the decentralization of the coin.
Europe considering to ban mining. Happy to hear about pos for zcash.
Why Proof of Work is Flawed with NicolƔs Maduro - Radio Ambulante
For all the talk about flaws, I see PoS as the place to be if you want to innovate. Also, moving to PoS would allow us to get rid of old techs that we no longer use and will slow us down in the future. That includes legacy bitcoin codes and soon-to-be-deprecated pools.
I couldnāt agree more. It is exciting to see ECC starting the work towards migrating to PoS. This is a long endeavor that might take 12-24 months for an initial rollout, followed by major work required by the Zcash ecosystem to adopt and support the changes that will come with the transition to PoS, all the way from stake server operators to changes in wallets, exchanges and service providers. I hope the Zcash community supports the broader effort to make it all happen.
something to considerā¦