phyro

6 ms·

1.
by phyro 3y ago
People tend to forget Bitcoin is a monetary experiment where nobody controls the printer and the total supply over time converges to a certain value. There's no good reason not to try a different model of supply e.g. a supply function
2.
by phyro 3y ago
That's not the only difference. As tromp said, if someone figured out the discrete log of H, they could inflate Monero and nobody would be able to tell. If someone inflated Bitcoin, everyone would notice immediately.
3.
by phyro 3y ago
The protocol you linked is noninteractive. The user simply creates an onion-based transaction and sends it to the service. The service collects these and creates a single joint transaction which includes your output.
4.
by phyro 4y ago
If you're interested in a non-technical explanation of Mimblewimble, I tried to explain it through pictures here https://phyro.github.io/what-is-grin/mimblewimble.html
5.
by phyro 4y ago
Monero has some strong points, but it's actually LESS decentralized than Bitcoin. A Monero confidential transaction is 1.5kb while a Bitcoin transaction which is only around 300 bytes. For the argument of decentralization, it doesn&#x2
6.
by phyro 4y ago
It seems to me the threat model of Rust is a magnitude safer than that of Bitcoin under assumption that Bitcoin was to become a global store of wealth. Toxicity acts as a shield to protect against social attacks from the big players which m
7.
by phyro 4y ago
There's also something to be said about extreme design simplicity and resilience to change. Bitcoin is already really good at this, but when the system design is so simple that any change looks invasive, it ossifies even sooner and mak
8.
by phyro 6y ago
Glad to hear that. In Grin, each block creates 60 coins. The time to mine a block is set to be 1 minute on average, so it will average out as 60 coins each minute and hence 1 coin per second. This won't be _exact_ of course due to the
9.
by phyro 6y ago
I'm glad you mentioned this. Indeed, there are two different things. First is the linearity of blocks and the second is the linearity of the emission of units with which we transact. Bitcoin has the former, but does not have the latter
10.
by phyro 6y ago
If you zoom in enough, you won't see these exponential steps. If you were able to zoom out completely, you'd see _only_ the exponential function. Bitcoin's emission is an exponential function (dropping exponentially), the fac
11.
by phyro 6y ago
Thank you for sharing this! I wrote a much shorter article on why I believe Grin is the closest to "time is money" here https://phyro.github.io/what-is-grin/grin_emission.html Bitcoin can be thought of as a c
12.
by phyro 6y ago
I'm glad you found it useful! I wouldn't say Grin is dead, the early years were designed to be tough on the price. There's definitely places where it can improve, especially in the usability. I know that Grin can do a few tri
13.
Mimblewimble and Grin Are Different(phyro.github.io)
10 points by phyro 6y ago|4 comments
14.
by phyro 6y ago
A little over a year ago I heard of a technology called Mimblewimble. I skimmed over some explanations and somewhat understood what it was trying to achieve. I've been in the space a few years and I've not been this excited about