In the previous posts I described and explained what happened with Satoshi's Vision over the years, how it changed and even how was misinterpreted by some developers.
Today we're going to talk about what cryptocurrency might be a true disciple of this "vision".
Because in Satoshi's white paper it is stated that the validation of transactions should be done by the CPU, and he wanted this transaction to be relatively private in the meaning that no third party should interfere with their own medium of exchange (money), we could argue that MONERO would be the perfect disciple and a worthy candidate for this position. Even that in previous years the XMR could be mined with GPU and later on ASIC machines, the mining algorithm was changed to RandomX to be resistant against the above mentioned hardware, but friendly with all newer CPUs. You can mine Monero even with your laptop... if it's not to old, or more likely the processor is to old... This way of mining ensures a wide spread network with the highest stability and security then any crypto out there, making Monero to be almost "bullet proof" against 51% attacks.
There might be an argument from some people that also Bitcoin is extremely relisilient to 51% attacks because it would take a tremendous amount of hashing power to overcome the network but, I will remind those people that a Bitcoin "Council" it has been created and only those mining corporations and extremely wealthy individuals, like Elon Musk, can be invited to discuss the future of the network and/or other mining related issues.
No matter what people are saying in defending the "Council's" purpose and it's "pure" existence, to me, this makes it sound like a cartel organisation.
Cartel = possibility of 51% attacks! Period!
In Monero's case there is no "cartel" type of organisation just a community development, and there is a possibility as well that Satoshi himself could be involved in this project, which makes XMR even more intriguing. Since the name of Nicolas van Saberhagen, as many suggested, could probably be a pseudonymous like Satoshi Nakamoto's, proves in a way, that the founder/s did not care about the fame or maybe he was afraid of exposure. The genius of Nicolas (the person or group of developers), made possible to hide the traceability of any transaction through rings signatures, which makes Monero far more private then Bitcoin's initial development intentions. Nevertheless there is a community of anonymous developers who truly want to improve Monero's network.
So what are the Conclusions for Monero's candidacy for Satoshi's Vision:
- Privacy? = checked!
- CPU based mining? = checked!
- Absolute Decentralisation? = checked!
- Community based Coding? = checked!
- No CEO, CFO, board of directors etc? = checked!
- No ICO, pre-mined or fork-dropped coins offering? = checked!
If XMR might not sound to be a true successor for the original BTC, then perhaps BITCOIN Z could be a good candidate? You might say that the Z at the end Bitcoin's name could indicate that this is the last one or maybe the ultimate Bitcoin version as Satoshi envisioned in his white paper.
Unfortunately the BTCZ can be mined only with GPUs with an ASIC resistance, but has all the other features as Monero. Nevertheless the BTCZ community and developers recommends to actually mine BTCZ + XMR (the thumbnail above shows their "advertisement" :D ). I know that this is not a good reason to include BTCZ in the disciple's discord but it's interesting to see how people actually envisioned this double mining method.
Oh I almost forgot to mention that nobody knows the developers of this blockchain which by the way it is some how unique type but used in the beginnings the Zhash algorithm and later zkSnarks, still it is not a Bitcoin fork like BCH, BSV, BCD, BTCP or BTG.
Not knowing the developer's name does not prove that Satoshi himself collaborated in the above project developments but it can show that ANONYMITY OF A DEVELOPER IS A SATOSHI VISION as well. I don't think I need to explain further why that is...
What about other coins? Like Komodo for example?
The Komodo blockchain is build on Bitcoin Network therefore Komodo Network´s functions are closely interconnected but do not share information, as far as I understood. There are so many technical things to explain the KMD that I think you should watch this YouTube interview with the Komodo's anonymous founder:
So... after seeing all these great blockchains does Ravencoin could also be a great candidate for Satoshi's Vision Disciple battle? Or maybe the DGB, LTC, BCH, ZEN not to mention BSV that it's describing itself as the Satoshi Vision can be true disciples?
Well, yes and no, and I will explain why:
for NO answer...
First of all, these coins or several other like these that have a great potential were intentionally designed to gain profit for the one that is mining them and/or developers get some percentages in a form of donation from the transaction fees.
Second they have a centralisation tendency because they can be mined in large farms. One exception might be RVN that it is mined with GPU. Still as long as it's own algorithm can be used for multiple GPUs then centralisation might come later on...
Third, Not made by Satoshi (or an anonymous founder) = Not his vision
for YES answer...
Firstly, all of them are trying to ensure a more decentralise finance without the interference of the banks.
Secondly, all of them are proof of work meaning that, everyone can create the coins, theoretically, if they have the right equipment.
Thirdly, you do not need a government approval to mine the coins.
These last three answers can be also applied for XMR, BTCZ and KMD.
So here you go, these are my own blockchain choices that could be interpreted as being a true Satoshi Vision's disciple.
What do you guys think, do you agree with this or maybe you have some other choices? Let me know in the comment section.
Thank you!