Zcash Proof of Life, Ethereum Proof of Death.

in zcash •  7 years ago  (edited)

If you react to everything you see immediately you will be volatile subjective debates. I am not here to have a debate. I have to explain the reason someone would want to have all nodes active.

Nodes verify transactions, and that is essential for the functionality of any core development of a cryptocurrency.

Investors use a wide variety of statistics to predict their profiles, total coins in circulation will be denominated by a wide variety of factors including total active nodes.

A Node is a Wallet

Total Coins ÷ Active Nodes is a Common Market Predictor

Being able to read this statistic will help investors gauge the diversity and actual full decentralize aspect of to how far the currency has decentralized itself from the core team. So this in fact would be good for all investors to know, that Zooko doesn't want idle keys. These keys could be long to anyone, with even a potentially malicious intent running old firmware that is not in use anymore.

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There is a prime example of this issue in the current $75 Million Dollar ethereum Whitehaven exploit hack taking place just recently.

This just came at me, and is an example of why proof of life has good potential, especially for mined coins.

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These are the exact lines of code where nearly 380,000 Ethereum were exploited from the network with due warning from many community members in the Parity Wallet software. The developers are likely responsible or affiliated and this wouldn't be a problem if Zcash was the choosen currency, as user may be forced to maintain private active nodes in the future to keep control of their funds, as idle nodes will potentially be considered void in the new proof of life concept in circulation through community opinion at the moment.

The photos for the Ethereum exploit were provided by @ravibhojwani

Much appreciated.

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@phusionphil

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