Re:Signal adds a payments feature with a privacy-focused cry...
by akvadrako on Tuesday April 06, 2021 @06:30PM
(#26718198)
Monero is clearly the most practical secure coin as evidenced by it's popularity on the darknet. But I think what MobileCoin offers is speed.
Re:Signal adds a payments feature with a privacy-focused cry...
by qqii on Tuesday April 06, 2021 @07:00PM
(#26718440)
As a tradeoff for decentralisation. Currently nodes are run by "trusted companies" and it doesn't look like you can run your own as an individual.
Re:Signal adds a payments feature with a privacy-focused cry...
by hjek on Tuesday April 06, 2021 @11:20PM
(#26720245)
And way less energy consumption, according to their website.
Re:Signal adds a payments feature with a privacy-focused cry...
by stjohnswarts on Wednesday April 07, 2021 @01:30PM
(#26728030)
There is no mining which is the big issue. The big issue with their plan is that they hold 85% of the outstanding coins, which at current rates makes them billionaires. No doubt they will liquidate it in chunks to move it from digital potential to cold hard cash.
Re:Signal adds a payments feature with a privacy-focused cry...
by fX0rObfoMN4 on Wednesday April 07, 2021 @09:14AM
(#26724400)
That is because there is no mining. A proof of stake coin would also use electricity but MobileCoin doesn't even do that.
Re:Signal adds a payments feature with a privacy-focused cry...
by woobilicious on Thursday April 08, 2021 @12:13AM
(#26735012)
PoS and MobileCoin validator nodes use about the same amount of electricity.
I'm not a fan of PoS because it looks like a ponzie scheme (unless it's done like eth where initial distribution is done via mining)
This is actually worse than PoS, because PoS uses standard public key cryptographic to validate ownership of coin in the chain to stake, it at least in theory can achieve "trustless" validation.
This on the other hand is just a shitty attempt to outsource database maintenance to untrusted 3rd parties, using SGX, while forcing them to pay for S3 hosting because they can't implement a DHT to do proper decentralized file transfers.
E.g. the only cryptos I've seen people accepting on dark web markets are Bitcoin and Monero.