2 ms·
> to ensure that nobody can have total control of the system, it has to be computationally heavy and expensive in terms of energy required per transaction. To
by paulgb 9y ago
> to ensure that nobody can have total control of the system, it has to be computationally heavy and expensive in terms of energy required per transaction.
To be entirely safe when I go to the grocery store I could drive a tank, but a cost-benefit analysis reveals that I shouldn't.
As a thought experiment, what would happen right now if the mining incentive went to 0 and miners subsisted entirely on transaction fees? Would the system still be secure? (It's an important question since that's what will eventually happen with difficulty adjustments)
- nukeop 9y agoLong before that happens we will have already moved to better, more advanced crypto currency systems. Bitcoin is not the only alternative and its importance is dwindling. "Mining incentive" won't even have any meaning by the time the danger you envision is in the realm of possibility.