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The nodes are paid from "created coins", at the expense of everyone diluting. Could call it artificial inflation. > This seems like a glorified eventually con
by cies 9y ago
The nodes are paid from "created coins", at the expense of everyone diluting. Could call it artificial inflation.
> This seems like a glorified eventually consistent database synchronization algorithm.
To some extend that is what a blockchain is. Also: immutable, no-need-to-trust-every-node, KV, and sometimes with the ability to perform smart contracts.
> In a fee based blockchain, I can pay more to get my transactions through before someone else.
Yes. Either way, as long as you tx comes through "quick enough"... :)
- joeblau 9y agoAh okay thanks for helping. I guess in the case of RaiBlocks, since you're only transacting currency (not Turing complete smart contracts) there isn't really a need for fees to prevent the halting problem like you have with Ethereum. I've made a list of tokens that I'm trying to categorize[1] so I think I've got RaiBlocks in the right place. Is Bitcoin slightly over designed in how the fee structure is implemented for the problem it's solving? [1] - https://cryptostream.com/token-utility/ https://cryptostream.com/token-utility/
- sova 9y agoIn BTC land PoW = fee. In RaiBlocks they use it more like a Captcha before sending a transaction, effectively getting rid of Fees because it's just as useful anti-spam. (However, I think that fee transactions are actually quite important in a blockchain because you don't want nodes wasting resource adding and checking nonsense even if the captcha was computed.)
- XR0CSWV3h3kZWg 9y agoWhere is it specified how much people get paid in created coins?