1. Julian

    Julian New Member

    Vcash (www.v.cash) claims to have instant transactions (or zero-time transactions as they call it) as well. How will MicroCash be technically superior to Vcash?
     
  2. Ryler Sturden

    Ryler Sturden Member Staff Member MC Developer

    Anyone that claims proof of work or proof of stake are "instant" are pretending that "0 confirmation" transactions are secure. You can say the same for Bitcoin, though these days it is getting more lagged, that 0 confirmation items arrive pretty soon, right? Is it secure? No.

    As soon as you see "proof of work" or "proof of stake" or "blocks" just realize it isn't really instant unless you are happy with irreversibility. Bitcoin has had this same level of "instant" since its start, as do all altcoins derived from it. They key point is instant and 100% secure of which MicroCash is. If you see any other currency with these claims I would be interested in it, as I haven't seen it yet.
     
  3. Julian

    Julian New Member

    I am well aware of this kind of instantness. And I know that it's unsecure. But they claim it is instant and secure (which is the two properties that seem to not be combinable).
     
  4. Ryler Sturden

    Ryler Sturden Member Staff Member MC Developer

    Well them claiming it and it actually being it are two separate things. I mean there are over 700 cryptocurrencies and yet we still have some Bitcoin supporters saying that Bitcoin is irreversible. Even though numerous double spends have already occurred. Let alone the potential that exists that has been seen in probably the majority of Bitcoin derived currencies.

    It is like I keep saying, words are cheap, simply because there are so many people now claiming everything under the sun. Also because they are cheap, you have to deliver actual evidence for anyone to realize any different. At least you hope so, because as can already be seen the average person's knowledge about crypto is nearly entirely predicated on them reading forum posts or something like this.
     
  5. SuperTramp

    SuperTramp Administrator Staff Member


    Instant sure, but secure? I guess that is a bit subjective depending on your perspective and what you are trying to convey to the public. As Realsolid already stated all these crypto's that are based off POS & POW type systems are not truly secure from a zero confirmation standpoint, even then, the level of security only increases with each confirmation of that transaction so absolute security is probably more a correlation of mathematical probabilities than a certainty.
     
  6. Julian

    Julian New Member

    Don't get me wrong, I absolutely agree. I thought someone might know more about that claim and can verify or falsify it.

    To me MicroCash is attractive because of its instant and secure transactions. This sets it apart from every other cryptocurrency.
     
  7. Ryler Sturden

    Ryler Sturden Member Staff Member MC Developer

    The "John Connor" who made Vanilla Coin is one of only a few developers who actually can code a fairly decent C++ level. Besides himself, peercoin/xpm Sunny guy, Satoshi, and myself I know of no one else who has done anything significant in this realm. Not to say no one else has but it is important to recognize the importance of it.

    But PoW and PoS can never be instant and secure. I would just say it is a loose description of the system much like Bitcoin uses. If you imagine some technology which is better than competitors which doesn't claim at least the same things (that are very loose with the truth) well, you can understand somewhat the position some people are in.
     

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