Re: [ANN][XC][OFFICIAL] >> Mandatory Wallet Update (01/06) - X11/PoS/Anon
Nobody is concerned that basically all Gmaxwell's criticisms apply equally, if not more, to XC?
XC doesn't even purport to be trustless, and the overall implementation hasn't even been comprehensively described.
As he has said cryptonote and zerocash technology are the only novel and workable decentralised and trustless solutions thus far. A 'dynamic trust network' is neither trustless (the whole point of bitcoin and derivative technologies) nor decentralised since it relies on certain nominated nodes to provide specific tasks.
Everybody seems to be drinking a nice big cup of smug over the weaknesses of darkcoin (of which there are legion) while avoiding taking a look in their own back yard.
XC doesn't even purport to be trustless, and the overall implementation hasn't even been comprehensively described.
As he has said cryptonote and zerocash technology are the only novel and workable decentralised and trustless solutions thus far. A 'dynamic trust network' is neither trustless (the whole point of bitcoin and derivative technologies) nor decentralised since it relies on certain nominated nodes to provide specific tasks.
Everybody seems to be drinking a nice big cup of smug over the weaknesses of darkcoin (of which there are legion) while avoiding taking a look in their own back yard.
Yes, I think it would be valuable for the XC team to engage seriously (and respectfully) with Gmaxwell's post. In fact, we should invite him to review XC's tech when it's more fully developed. It would be a real opportunity to benefit from his expertise.
I also think we should take his criticisms seriously when developing the coin. Is there a better model than the dynamic trust system? Can we come up with one? Perhaps, and we'd do well to consider it long and hard.
that's a good idea.
Gmaxwell is an expert on Anonymous technology.
