OXEN is a fork of Monero that uses proof of stake instead of proof of work and supports instant transactions. Lokinet (onion router, like tor) and Session (messanger) are build on top of it. I just discovered it a week ago and I’m suprised that I hadn’t heard of it before. In my opinion It’s a better Monero (except that Monero has higher and more stable price)? What do you think about OXEM? Is it better or not, and why?
It is not focused on being money so much as it is focused on application building such as session and lokinet. Really, the only things you need $oxen (token) for is to setup a node or buy an oxen name and those are about the only use cases. I am by no means saying it is bad but it is not doing the same thing that Monero is.
Afaik, PoS (Proof of Stake) would weaken the chain, as it leads to more centralization, which makes it more vulnerable to attacks.
I value the freedom of free software. A fork is good in that context.
PoS has at least one good aspect: it’s perceived as “green”. Other than that, afaik PoS tends to imply that only a few rich people can determine whether something is okay or not. The Monero network, on the other hand, is carefully designed so that any one with any CPU can participate (at least in principle). This design philosophy feels good.
I liked the idea about running a crypto to power a darknet, but the PoS move weren’t a good idea. With Tor + SimpleXChat, we reach the pretty same goals wanted by OXEN.
In what sense is it a better monero?
Proof of stake and instant transactions
How instant? Monero transactions can be seen in seconds (in the mempool) which is okay for smaller transactions. And 1-2 confirmations take roughly 2-4 minutes which is recommended for bigger transactions. So still pretty fast for real world stuff.
And what is your reasoning for PoS > PoW? I’m very curious!
Curious, how much would you accept on a zero conf?
We can’t spend inputs till they reach 10 blocks though right?
Assuming you only have one input available, yes.
Monero does instant transactions, visa is proof of stake. They are unrelated things with different uses in mind. I don’t understand how you compare the two. What can you do with oxen?
Session not only is privacy but also free speech! It’s a huge problem that the government controls DNS or domain names that point to IP addresses. You don’t own a domain, they rent it to you.
Our team has developed software for a distribution bot using Session messenger because Session has blockchain based DNS on top of onion routed privacy. This video explains how it works: https://video.simplifiedprivacy.com/sessionbot/
