Posts tagged "monero (XMR)"

Atalanta: Monero's Reservist Army

Here’s the follow-up to a recent post about Qubic’s attack on Monero’s blockchain. There, I argued that Behavioral Economics was the answer. Otherwise, people can just play the ‘loose/aggressive’ tactic until it works. It would be wrong, however, to think that technical strategies don’t play a part. This post is an add-on. It will get pretty nerdy. I think Monero needs something like a wasp’s sting. It needs a way of causing harm to them who would cause it harm.

Monero Under Attack

At time of writing, the Monero Blockchain is under attack, and not by some secretive group of hackers, as is usually the case, but by the leaders of a rival coin, qubic (QUBIC). Qubic didn't do anything clever. Qubic said to Monero's miners: "Keep mining XMR, but do it under our control, and we'll triple your profit." Admittedly, it doesn't take much to lure a miner. I think Monero's miners are more loyal than others.1 I suspect that Qubic lured away far fewer miners of monero (XMR) than implied. The whole organization smells fishy to me, but I won't go down that rabbit-hole here. There's a lot of cap-and-gown disquisition at the moment. Proof-of-Work in general is under scrutiny. Well-meaning nerds reach for technical solutions by default, but I think Satoshi's system was successful due to behavioural economics.

What is P2P V4V?

P2P V4V stands for 'Peer-to-Peer, Value-for-Value'. 'Peer-to-Peer' is a way of doing commerce. 'Value-for-Value' is a way of doing commerce. Both have been around for a while now. As far as I know, joining them together is new. The result is a basic framework for commerce that is fairer and freeer and leverages existing 21st century technology.