Certainly, the masternode holders have a centralization issue as well, since oftentimes they use AllNodes; however, this isn’t really comparable to mining. PoW is compromised when an individual or group maliciously attacks from the outside with an overwhelming amount of hash (>51%) or from within a pool that has an overwhelming amount of the hash and takes advantage of the situation (as we see 2Miners has) which means that, if we were PoW, this entire time Firo would be vulnerable to such an attack.
Unlike miners, Masternodes can be centralized on any of those service providers and not be compromised in the same facet. The reason the centralization is a concern for masternodes is because of the fact that if said service provider goes down, then it brings a lot of nodes down with it, which would make it that much easier for someone to also target the other nodes remaining on the network (attacking one of the other service providers). If a lot of nodes go down, the security would be weakened, but not broken. Even if such an attack did breach, they would then have to perform a malicious attack through the PoW before nodes came back online. However, attacking the PoW (especially right now) would be far easier for them to do than the nodes I’d think.
So the centralization of nodes is a problem from certain prospects, but it is not comparable to the centralization of hash on the PoW side.
I just have a quick question…
While we are reallocating block rewards and reducing block times by half.
Would this also be a good time to reduce the maximum coin supply back to 21million?
I also wonder if there is any point in doing that, if the community wants to go the route of a tail emission.
Personally from a sustainability perspective, I prefer the idea of adopting a tail emission thats somewhat comparable to Monero’s longterm strategy.
The reason I even bring this up, is every interview we do. It seems the host wants to know why supply is 21.4 million. Then we have to rehash a protocol bug from years ago that has no bearing on Firo today.
In my opinion, this still does damage to Firos image, and in most cases could be avoided.
Me to, as well as dynamic blocks. I also really think this kind of thing should be done in Firos infancy, before it becomes a hot potato issue like blocksize on BTC.
To decentralise the MN network, give us simple, easy to follow guides so we can use old laptops and Raspberry Pis (perhaps already running a BTC and LN nodes?) while keeping collateral safe on HWs.
I could put a couple of nodes on old laptops and two Pis I have tomorrow if you could make it simple for me to do so.
There are 3 more days for this poll after which we will close voting. We are finalizing code in place and will be testing it soon.
However we do need to get the Community Fund Committee elected and would recommend experienced and dedicated users to nominate themselves or someone else.
How long will it take for firO to be implemented after the vote? I hope it can be launched as soon as possible to accelerate the pace. I hope FIRO can become different in this year.
Not only the price, but also its popularity, reputation, technical capabilities and so on. At present, FIRO is still only in a small circle, only a few people know it
In terms of the reputation I agree it will take time due to the hiccups along the way but we will get there.
Technical capabilities I strongly believe Firo has them already but instead of just sitting like most project we are driving for further developments and improvements.
In terms of circle I think it’s not small but not big either. Most holders or at least English speaking once are not very vocal. MN and miners neither. I also feel many people are aware of Firo but prefer to jump from hype to hype for quick buck rather than looking long term.
I also believe competition are in some ways hating on us not because they don’t like us but because are jealous what we are achieving despite the hiccups and despite the small fund we have to work on with.
Of course I want and this year I believe they will find out.
What I am saying that we should consider ourselves lucky that we know about Firo and have the opportunity to get in at this price levels before we explode. IMO it’s inevitable
