SimplifiedPrivacy.com on Nostr: The crowd thinks that the problem is Qubic trying to 51% attack Monero's Proof of ...

The crowd thinks that the problem is Qubic trying to 51% attack Monero's Proof of Work,

But, the larger problem is that all crypto mining is useless activity

However, running a Monero node is useful because it spreads out the blockchain sync to make it faster to download. Running a Monero node is like a private blockchain CDN, which has economic value for the product of privacy.

Another example of "useful" proof of work is Arweave's CDN, which forces the servers to produce data on command.

If Monero Mining is currently useless,

But Monero nodes are useful,

Then, in my subjective opinion, Monero mining should change, to force a node to be run with the mining. This is actually a current proposal, that is not likely to pass due to fears that the attacker, Qubic, will run the nodes, but the current miners won't. However, the current system is fairly unsustainable.

Under the current system, centralized mining pools dominate, since using P2Pool gives lower rewards. For those not familiar, P2Pool is a peer-to-peer mining pool, which avoids the centralization problems like those that Qubic seeks to create. However, P2Pool gives lower and unpredictable rewards, without clear benefits to the individual miner. It's good for the network, but bad for the individual's rewards. That's why as little as 2% of the current miners use it.

Therefore, in my opinion, the protocol should encourage P2Pool by forcing USEFUL activity, such as having a Monero node that accepts public syncs. Think about how much faster the blockchain syncs would become, with all these new nodes being online and operational.