Monero Community Suggests Updating Consensus to Thwart 51% Attacks

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The Monero community is exploring a potential overhaul of its proof-of-work (PoW) consensus mechanism to make the network resistant to 51% attacks.

Community members suggested several proposals, including localizing mining hardware, switching to a merge mining algorithm,  allowing XMR to be mined alongside Bitcoin (BTC) or other major cryptocurrencies, and adopting Dash’s ChainLocks solution.

Dash’s ChainLocks uses “randomly selected masternodes” to reach a quorum on the first valid block broadcast by the network, locking the blockchain ledger…



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Monero Community Suggests Updating Consensus to Thwart 51% Attacks


The Monero community is exploring a potential overhaul of its proof-of-work (PoW) consensus mechanism to make the network resistant to 51% attacks.

Community members suggested several proposals, including localizing mining hardware, switching to a merge mining algorithm,  allowing XMR to be mined alongside Bitcoin (BTC) or other major cryptocurrencies, and adopting Dash’s ChainLocks solution.

Dash’s ChainLocks uses “randomly selected masternodes” to reach a quorum on the first valid block broadcast by the network, locking the blockchain ledger…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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