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Monero, and all crypto-note infrastructure, is about 2 years behind transparent blockchain technology, and thus has a lot of growth as it becomes a viable optio
by ringaroundthetx 9y ago
Monero, and all crypto-note infrastructure, is about 2 years behind transparent blockchain technology, and thus has a lot of growth as it becomes a viable option for more use cases.
For example:
Multisignature transactions are just becoming available. The lack of multisignature made it a non-starter for many applications, including on darknet marketplaces, because rudimentary escrow or deposits were needed. When the operator goes down, all your funds are on their server and are gone with it, but with multisignature as seen in bitcoin and ethereum, you always have control of your funds and they are never in limbo.
Meta-assets are not possible yet. Asset creation is one of the big tenants of Ethereum right now, and there are many assets on bitcoin as well for even longer. Many organizations use this as a way to raise capital, bringing in a lot more capital into the base currency's economies. Monero and crypto note doesn't have this capability yet, but being able to issue and hold balances of these privately, with audit capabilities, will be powerful.
2nd layer scaling solutions are not even on the roadmap yet in any crypto note network. Cryptonote has the same scaling problems as bitcoin or ethereum, but the key sizes accelerate that. Cryptonote coins have dynamic block sizes already, but it may react too slow to really help periods of many transactions. Monero already encounters this issue. Bitcoin style cryptocurrencies have Lightning Network via Segwit. Ethereum has Raiden on the roadmap.
- sillysaurus3 9y agoDo you have an email I can reach you at? I have a quick question. (HN hides the email field in your profile, so if you want to make it publicly visible you'll have to put it in your profile's "about" field.)