The main issue with OXEN's economic model is unlimited supply, which caused huge inflation. Switching to Etherium network won't solve this, they should have just changed the supply type.
@@privacyproshop For meeting the real goal of privacy focus on investors, especially as it pulls crypto to being just like traditional finance and thus completely blunting its edge is a major mistake. There is lots of money in privacy in cryptocurrency and even more likely as governments and their war against crypto, anonymity, cryptography and even internet non-KYC use intensifies. Many would invest time, talent and treasure heavily in true privacy seeking projects. Just going for where the biggest pile of money is seems rather stupid.
Details are still very few, but this doesn't change Lokinet or Session in any fundamental part. They will have to figure out how to move the current ONS names over to whatever the new system is as that is somehow tied to the blockchain. Except for ONS name purchases, the main use for OXEN has been rewarding the service node operators, so once ONS is figured out, and hopefully stays as private as it is now, there isn't much else tied to the rest of the stuff as far as I know.
@privacyproshop That is true, although there will be: 1. Privacy-focused decentralized messenger "Session"; 2. Anonymous onion routing system "Lokinet"; 3. Not private in any way "SENT", working on ERC-20 chain. That sounds not quite right, isn't it?
I don't trust Ethereum network when it comes to privacy. Much of the Coin Analytics work is focused there including analyzing defi contracts on Ethereum. I also fear high gas prices that have hurt many a small Ethereum network coin and project. I think it is a very questionable move. Why not go to a privacy coin basis of something like ARRR, ZCash or Monero? Or perhaps launch a coin on the Secret Network?
They have their own coin, Oxen, which is a privacy coin. The problem they have encountered with Oxen is that the obfuscated blockchain based on Monero code deters many investors from investing in it. The reasons for that are many. While having their own coin makes things flexible and is much more private than an Ethereum coin, the fact remains that in order for Oxen Network to become a viable network it needs investment. Privacy of Session Messenger and Lokinet should not be impacted by the change. Your concern over the gas fees is valid.
Where do I withdraw my Oxen tokens to from Kucoin?
Your own wallet, or TradeOgre
The main issue with OXEN's economic model is unlimited supply, which caused huge inflation. Switching to Etherium network won't solve this, they should have just changed the supply type.
I think the main attraction to Ethereum is the access to investors
@@privacyproshop For meeting the real goal of privacy focus on investors, especially as it pulls crypto to being just like traditional finance and thus completely blunting its edge is a major mistake. There is lots of money in privacy in cryptocurrency and even more likely as governments and their war against crypto, anonymity, cryptography and even internet non-KYC use intensifies. Many would invest time, talent and treasure heavily in true privacy seeking projects. Just going for where the biggest pile of money is seems rather stupid.
Wait so you're staying on oxen? Is that a choice? So it's just that development of that chain technology is being discontinued?
Details are still very few, but this doesn't change Lokinet or Session in any fundamental part. They will have to figure out how to move the current ONS names over to whatever the new system is as that is somehow tied to the blockchain. Except for ONS name purchases, the main use for OXEN has been rewarding the service node operators, so once ONS is figured out, and hopefully stays as private as it is now, there isn't much else tied to the rest of the stuff as far as I know.
Lokinet, in particular, has big commercial potential, and this transition to SENT will likely make it easier to reach the potential.
@@privacyproshop Oh cool, so overall this is probably positive news, except for the engineering challenges now present.
Maybe. Of course, all depends on details and your views.
@privacyproshop That is true, although there will be:
1. Privacy-focused decentralized messenger "Session";
2. Anonymous onion routing system "Lokinet";
3. Not private in any way "SENT", working on ERC-20 chain.
That sounds not quite right, isn't it?
I don't trust Ethereum network when it comes to privacy. Much of the Coin Analytics work is focused there including analyzing defi contracts on Ethereum. I also fear high gas prices that have hurt many a small Ethereum network coin and project. I think it is a very questionable move. Why not go to a privacy coin basis of something like ARRR, ZCash or Monero? Or perhaps launch a coin on the Secret Network?
They have their own coin, Oxen, which is a privacy coin. The problem they have encountered with Oxen is that the obfuscated blockchain based on Monero code deters many investors from investing in it. The reasons for that are many. While having their own coin makes things flexible and is much more private than an Ethereum coin, the fact remains that in order for Oxen Network to become a viable network it needs investment.
Privacy of Session Messenger and Lokinet should not be impacted by the change.
Your concern over the gas fees is valid.
What a crap festival OXEN become.
Moving to Sent might open more doors for investment in Session & Lokinet.