1. Double Spend Proofs

Improves: Convenience, security, and transaction speed

BCH has “instant” 0-conf transactions. I think XMR might be able to achieve something similar (although maybe not as fast because of Dandelion++) since both don’t have RBF. This would make 0-conf transactions safer for smaller amounts and the vast majority of use cases.

2. Decentralized Governance Network Upgrade Consensus

Improves: Decentralization Wider reaching and more explicit consensus from Monero network for upgrades

So far, Monero’s governance has worked out for it and there has been little to no contention with it’s direction within the community. But XMRs governance is not as ideally decentralized as it should be. Again, I’m taking inspiration from another aspect of BCH that I think it does well. Their “CHIP” process, or a variation, is something XMR community should think about and consider adopting to make Monero more robust to capture.

3. Client Side Validation

Improves: Privacy and scalability

This one was inspired by a BTC project called RGB.

“RGB can scale in terms of transaction throughput, data size and network size. It doesn’t keep any data on-chain (in any blockchain)…”

“No chain analysis is possible due to the absence of a transaction graph in blockchain. RGB uses zero-knowledge to protect the history of a fungible state. With RGB, the user is always in-charge of when, and what parts of the history and state to disclose, if needed.”

4. Succinct STARK proofs for Monero blockchain

Improves: Greatly reduce space and time required to sync a node

Another couple BTC projects that Monero might be able to take advantage of.

“Currently transactions specify inputs and outputs, and verifying an input requires you to know the whole state of the system. With Utreexo, the holder of funds maintains a proof that the funds exist, and provides that proof at spending time to the other nodes. These proofs are compact (under 1KB) but do represent the main downside in the utreexo model they present an additional data transmission overhead which allows much smaller state.”

5. Opportunistic Encryption

Possible improvement: Privacy and anonymity for Monero node communication

I’m actually unsure if this would just be completely redundant for Monero nodes. But thought to mention it just in case. Maybe it can help hide any residual metadata between peers, or offer an addtional layer, that Monero might not already cover.

https://github.com/bitcoin/bips/blob/master/bip-0324.mediawiki

*I want to know your opinions on these ideas. Let me know in the comments if you have any ideas from other projects that might benefit Monero too.*

  • @EggroleyEnglish
    1•1 year ago

    The fact that you decided not to educate yourself on a topic you’re literally critiquing speaks for itself.

    I once again ask that you educate yourself before making any further claims; otherwise you look like a fool.

    I also see you have preconceived notions with your assertion of BCH somehow being a “shitcoin”.

    For other CHIP sites, look at the forum I linked previously. It is literally THE site where CHIPs are discussed.

    Again, bch.info is a random informational site. As is bchfaq.com, as is bitcoincash.org, as is thebitcoincashpodcast.com.

    bch.info simply aggregates links to CHIPs and other specifications within BCH (commonly posted on github). This is similar to sites like getmonero.org or monerodocs.org. Would you claim XMR is centralized because of that?

    Obviously, no. To quote getmonero.org “the Core Team manages and maintains infrastructure where centralization cannot be avoided”. That is in the same essence of BCH minus the invite-only Core team as it is more of an individual/collaborative effort sometimes funded by the community via flipstarter.

    Does a smaller group of people contributing to a project make it centralized? (The answer is no, especially when that community is growing day by day)

    No community is large at the beginning.

    What is your definition of decentralized if not the literal definition of decentralized?