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With a Monero fork, I am curious if there is a way to set a Minimum Amount for Opening or Activating a new Wallet.
The idea is that people have to deposit a certain amount of coins into a wallet before being able to send coins or receive block rewards from mining.

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Google Gemini did a good job of answering this question:

It's theoretically possible to implement a minimum deposit requirement for mining rewards in a Monero fork, but it would come with significant challenges and trade-offs. Here's a breakdown:

Challenges:

  • Technical complexity: Modifying the existing codebase to enforce a minimum deposit would require significant technical expertise and potential changes to other core functionalities.
  • Network centralization: Restricting participation by imposing a minimum deposit could discourage smaller miners and lead to network centralization, a concern Monero actively avoids.
  • Unequal rewards: Larger miners with bigger deposits would receive a disproportionate share of rewards, potentially harming the network's fairness and decentralization.
  • Market manipulation: It could be open to manipulation by wealthy individuals or groups attempting to exert control over the network.
  • Enforcement mechanisms: Implementing and enforcing a minimum deposit consistently across all wallets and exchanges would be difficult.

Potential benefits:

  • Reducing spam and dust attacks: High-value transactions are less susceptible to certain types of attacks, potentially improving network security.
  • Discouraging malicious activities: Higher stakes might deter bad actors from using the network for nefarious purposes.

Alternatives:

Instead of a minimum deposit, consider exploring alternative solutions for the issues you might be trying to address, such as:

  • Increased block reward difficulty: Adjusting the block reward difficulty over time can naturally discourage low-value mining without hindering smaller participants.
  • Proof-of-stake consensus: Switching to a Proof-of-Stake consensus mechanism eliminates mining entirely, potentially addressing concerns about energy consumption and centralization.
  • Community moderation: Fostering a strong community governance system can help identify and address malicious activities without imposing barriers to entry.

Final Thoughts:

While theoretically possible, a minimum deposit requirement for mining rewards in a Monero fork presents significant challenges and risks to the network's core principles of decentralization and fairness. Carefully consider the trade-offs and explore alternative solutions before implementing such a change.

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