Re:The Cryptocurrency Industry Is 'On the Brink of an Implos...
by lawn on Monday October 15, 2018 @03:17PM
(#18222773)
You can have different approaches on how to make a cryptocurrency. For example let's look at two, Bitcoin Cash (BCH) and Monero (XMR).
* BCH as a fixed coin limit at 21 million. XMR has a tail emission so the coin supply will always increase
* BCH has a POW backed by ASICs and XMR has been doing all they can to brick existing ASICs and keep the mining on CPUs and GPUs
* BCH prioritizes scaling on-chain aggressively while XMR has more hope on second layer solutions
* BCH allows more script functionality (for example allowing you to store Twitter message, see memo.cash) while XMR disallows all that
* BCH has a transparent blockchain where all transactions can be traced while XMR tries to shield all senders and receivers
Of course other coins can make other trade-offs. Ethereum for example explores the extreme end of scripts on-chain, even having a Turing complete scripting language. Other coins are experimenting with alternatives to mining like proof-of-stake (POS).
* BCH as a fixed coin limit at 21 million. XMR has a tail emission so the coin supply will always increase
* BCH has a POW backed by ASICs and XMR has been doing all they can to brick existing ASICs and keep the mining on CPUs and GPUs
* BCH prioritizes scaling on-chain aggressively while XMR has more hope on second layer solutions
* BCH allows more script functionality (for example allowing you to store Twitter message, see memo.cash) while XMR disallows all that
* BCH has a transparent blockchain where all transactions can be traced while XMR tries to shield all senders and receivers
Of course other coins can make other trade-offs. Ethereum for example explores the extreme end of scripts on-chain, even having a Turing complete scripting language. Other coins are experimenting with alternatives to mining like proof-of-stake (POS).
Etc...