Re:Is This the End of Crypto?
by Lerc on Thursday November 17, 2022 @03:39PM
(#33645321)
The mining reward is not supposed to be the end state of the system. It is a subsidy, reducing over time, to get the system established.
Once established, the idea is that transaction fees are used and the distributed nature of the network causes a natural competition to be the most efficient so miners can charge the lowest fees while making a profit.
Once established, the idea is that transaction fees are used and the distributed nature of the network causes a natural competition to be the most efficient so miners can charge the lowest fees while making a profit.