https://da-data.blogspot.com/2014/08/minting-money-with-mone...
The history of people trying to design GPU or ASIC-resistant proof-of-work functions is long and mostly unsuccessful. I haven't looked into RandomX; it's possible they've succeeded here (or possible that with the alt-coin market mining profitability tanking after Ethereum moved to proof-of-stake, it just wasn't worth it).
Thank you for sharing!
I've since taken to running a non-public Monero node, which will become public when I can ensure my network security as it's being run from my home.
In saying that, there is a lot of concern around the new Carrot changes. To preface, I don't understand it enough to have an opinion either way, but a good chunk of the vocal user base seems to be worried that making “optional” view keys show both incoming and outgoing transactions will force the hand of the remaining exchanges, and be a condition of adoption of new exchanges to support Monero.
I haven't really seen a dumbed down explanation from the core Monero team as to exactly what the change looks like, and what the theoretical implications could be. It would be nice if Monero had more accessible PR for non-technical users to encourage adoption and squash FUD when it arises or at least acknowledge it from a top level in a blog post or something so that the already hyper-paranoid user base doesn't unnecessarily drive a mass anti-Monero campaign.
Are cryptocurrencies supposed to be a potential replacement for real life cash? This was my understanding of the motivation behind Bitcoin, at least.
If so, why does it make sense that people can "generate" cash by proving some amount of work done? This of course cannot be done with normal cash.
Is the main functionality of these cryptocurrencies supposed to be "people can send currency to each other", or "people generate currency -- a number -- and sell this currency for real life money"?
Think of it this way: If you pay with physical cash, there are people somewhere who do the work of digging ore out of the ground, smelting it, shaping it into coins, cutting and printing paper and so on. All these people do that, because they get paid in the same currency that they themselves have minted.
It turns out that nobody has yet found a way to create a digital decentralized currency that that works without incorporating a similar concept of incentivizing the creation of currency.
Because you need an incentive for 'miners' to participate in transaction processing.
Main functionality is transactions which are not controlled by any single entity (like the government).
Most of it is speculation unfortunately, which gives it a bad name, drowning out real usecases.
One thing I didn't understand though is Light mode:
> Fast mode is for mining. Light mode is for verification. The reference README says
The post only describes Fast mode, right?
Presumably verification is done by miners who already have the memory set up so Fast mode would be faster for them.
Verification is still relatively fast because you don't have to try gazillions of nonces so who is Light mode necessary and how does it work?
RandomX in Javascript (web mining?)
https://github.com/l1mey112/randomx.js/
Bitcoin with RandomX (agentic cash?)
It is hilarious.
