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reubster
u/reubster
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Compact
This is not set in stone but is merely something to aim for. While masternodes have served us well especially with Chainlocks and Instantsend, there are two weaknesses.
a) The need for a fixed IP address that is actually registered on the blockchain.
This has privacy implications and makes it easier to shutdown compared to PoW which can spin up anywhere. In fact the IP address is registered on the blockchain.
b) A certain threshold of nodes is required to form quorums and do complex BLS signing.
This has issues during halving as the number of masternodes will continue to drop as rewards get halved as per the Bitcoin schedule that we use. This has impact on security. We have seen the way Dash deals with it by continually upping the masternode rewards share but this is not sustainable in the long term.
My current idea is to use Avalanche consensus as post and pre consensus to support PoW. This was inspired by what my friend Amaury Sechet is doing at Ecash (previously Bitcoin ABC). A further deep dive is required by our team to evaluate the feasibility of this but it does have the properties of instant finality and 51% protection that we desire. I don't see this as an urgent thing just yet. What I like is the hybrid approach and the fact that we won't have to build this from scratch so we can focus on our privacy tech.
You can read more here:
https://e.cash/blog/avalanche-post-consensus-on-ecash
Though personally the role of GPU miners in building community is not as strong as before which is a growing trend in most projects where a growing percentage of miners have a general apathy to what they're mining (including totally pro miner projects like Beam Grin and Flux), PoW is beautiful in its ability to function without reliance on fixed infrastructure which is why I think mining will continue to be a part of Firo's ecosystem for quite a while.
