Summary/abstract/main characteristics of this proposal:
Zcash launched using proof of work. This meant that as well as removing the risk of proof of stake being in some way faulty, the developers could focus on snark development rather than proof of stake development. Now the situation is a little different, as proof of stake is a little more mature and shielded transactions in zcash have come leaps and bounds! This means that we should be able to switch from proof of work to proof of stake without diverting developers too heavily away from other protocol-improving work So I’d like to know if people generally agree, and if so, when can we do this!
1 - Header
Title: Proof of stake
ZIP Status: Draft
**Community Status: Request for comments **
License: public domain
2 - Terminology
To understand this ZIP it is critical that people understand the right terminology so their requirements can be quickly checked.
The key words “MUST”, “MUST NOT”, “REQUIRED”, “SHALL”, “SHALL NOT”, “SHOULD”, “SHOULD NOT”, “RECOMMENDED”, “MAY”, and "OPTIONAL"
Have special meaning and people should familiarise themselves with it. - https://tools.ietf.org/html/rfc2119
3 - Out of Scope for this proposal
4 - Abstract
Zcash should replace proof of work with proof of stake.
5 - Motivation
This is motivated by not wanting to have “destroying the planet” as one of zcash’s most prominent achievements.
6 - Requirements
- Proof of work is replaced by proof of stake.
7 - Specification
The community comes to consensus on answers to the following:
- What properties do we want from the proof of stake protocol? BFT? or not?
- Which are the best PoS protocols that satisfy these properties?
- Who gets to have the loudest/definitive say in all of this?
- When will this be implemented?
- Who will implement it?
- Will there be a transition period?
- When this will go live?
Issues & Further Discussion
Raised objections and issues so far:
- 2019-08-31 initial post