Monero Community Suggests Updating Consensus to Thwart 51% Attacks

The Monero community is exploring a potential overhaul of its proof-of-work (PoW) consensus mechanism to make the network resistant to 51% attacks.

Community members suggested several proposals, including localizing mining hardware, switching to a merge mining algorithm,  allowing XMR to be mined alongside Bitcoin (BTC) or other major cryptocurrencies, and adopting Dash’s ChainLocks solution.

Dash’s ChainLocks uses “randomly selected masternodes” to reach a quorum on the first valid block broadcast by the network, locking the blockchain ledger…