The Electric Coin Company recently wrote an article on the potential of Zcash leaping from Proof of Work to Proof of Stake. Fantastic news for the fintech and banking (unbanking) sector.
Within the piece, the discussion of what such a move could mean for the community is dissected- and mostly to the good of PoS (put aside the PoS vs. PoW environmental points). While many of the benefits discussed have been part of the PIVX community/project since 2016, I think it might be time for us to extend a hand and offer our privacy-minded friends a hand today.
Of course, we could be looking at a bit of time before Zcash actually moves to PoS, as there are some hurdles to overcome. The largest will be the communities willingness to ditch the current scheme and associated hardware for a move to lesser stringent machine needs. While this may seem an easy decision, we need to remember that there is a lot of money put into these rigs. Thus, hesitation may occur. But, alas, we’re here to assist.
While I can’t speak for our entire community, I’d like to extend a hand to both ECC’s and Zcash’s community at large to discuss, share, and help one another as they/you move forward. As pioneers in the Proof of Stake privacy projects, we’d like to share what we’ve learned. Moreover, we could better the entire ecosystem by jointly developing the continued push in the zkProof-of-Stake space. Whatcha think about that? Please, find us on our Discord channel and say hello!
You got to admit, this is kind of exciting. Seeing other privacy coins considering the move is a big deal all around. Even if the Zcash community doesn’t make a quick move, just not that the PIVX community will still be here when/if you decide to do so. [Insert secret handshake, “Go Team!”]