Cryptocurrency: Needs UTXO databases, CCDEX, etc [re: Anon $75M to Dev Tech]

[grarpamp]

> https://www.unknown.fund/
> Unknown Fund - Press Release 11/13/2019
> [snip]

In addition to developing and moving the entire cryptocurrency
space away from legacy non-privacy non-anon first generation
tech... such as, say, the interesting failure to use TLS etc in
their transports against rampant surveillance...

Cryptocurrency also needs to develop and move away from the
obscene transaction-based perpetual growth of first generation
blockchains... away from the still unwieldy, risky and even faulty
predictive claims that phones and computers will keep up, that
in some cases give excuse to continue use of central or even
faux-distributed "light wallet" lookup models and dependencies
ala SPV, the current requirement that ever growing Terabytes of
such chains exist in perpetuity for UTXO validation back to their
Genesis Blocks... such TB's of data easily datamined for privacy,
censorship, abuse, and subject to future unforseen privacy exploits,
and a pointless storage and transport offense laid upon everyone...

To blockchains that regularly checkpoint, bring forward, and mine
the UTXO's into an ongoing UTXO state database, discarding
all old transactions whose outputs have all been spent.
Consider it a sort of "coinbase input" reference similar to what was
done with BTCP's import of BTC UTXOs on day one, but one that is
now continually mined forward with consensus into a database structure.
Such databases could be distributed into a network structure,
and or held in clients, etc. It may be possible to manage a hashed
series of n-week old UTXO datasets, or even move to mining UTXO's
forward directly from the transaction stream into an atomic database.
Such UTXO database and operations could parcel out its functions
to miners, relays, clients, wallets, DHT, Encrypted Overlay Transport
and Storage Networks such as I2P, IPFS, etc... as needed for
computation, distribution, query, bootstrapping, etc.


The development of UTXO databases will immediately cut
all future [ir]responsible speculation on the storage question...
from the legacy thinking of "all historical transactions needed", down
to the more sensible and narrower fact of only "all UTXOs needed"...
which is a vastly smaller and slower growing amount of space.

Keep in mind that a "currency / cash / gold / etc", purely
monetary coins function... do not care about what tx history went
into making the current state, only that the current state, the
nominal values held in hand for future use over the network, is valid.
And that purely monetary coins are sufficient for their own purpose,
skipping all the other pile-on design-limiting functions such as token
carriage, where so merited for a monetary success if need be.
In that case, see below regarding DEX.

There seem to be some formation of ways to do UTXO databases
as some whitepapers are now speaking to the subject. They
are hard to find due to immature terminology and space flooding.

Feel free to create and curate a list of such papers for others to refer to.


The combination of the following technologies, among others...

- Privacy Coin tech (for all the fine reasons, in protocol, by default)
- Blocksize and other TX tech (to handle expected transaction rates)
- UTXO Database tech (to not blow out the ecosystem later on)
- Cross-Chain Distributed Exchange tech (for all the fine reasons)
- Secure and Overlay Transport tech integration (for all the fine reasons)
- Anything enabling Secure Comms and Meetups (for all the fine reasons)

... should bring the cryptocurrency space into a much better
position to tackle, uphold, and carry out the reasons it was
created, and the prophecies it is to fulfill.

Bitcoin-BTC, and most of today's other coins, may be unlikely
ones to introduce such tech, at least not without some laughably
embarrasing public backtracking, or such complete reboot
and coinbase reinput so as to be new anyway... ever.

Coins aren't really pluggably design and feature modular yet,
as such, most leaps in tech progress still need to be ground up.

With true cross-chain DEX (CCDEX's) combined with the rest
of the above tech, it doesn't matter which set of coins end up
doing it, users will trade into them, letting all legacies and
incapable proposals and failures, rightfully die.

Cryptocurrency is moving into its second decade and still
presents an extremely rare opportunity. Do not let those
windows close due to certain legacy models, say... of FUD,
rulers regulating, spying, power, lack of security, self-interested
shitcoins, etc... exploit them to win, for all the world's people.