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I’m less familiar with ETH than BTC but my understanding is that this is true: 1. Minting an NFT costs ETH in the form of “gas” 2. The miner who mines a block
by paulgb 6y ago
I’m less familiar with ETH than BTC but my understanding is that this is true:
1. Minting an NFT costs ETH in the form of “gas”
2. The miner who mines a block gets that ETH
Assuming both of these are true, each NFT minted on the ETH blockchain increases the amount they can profitability spend on energy in economic equilibrium.
- bhay 6y agoYour understanding is correct, however ETH is moving sharply away from PoW to PoS systems which are significantly less demanding systems in terms of energy requirements. I believe the roadmap expects the full PoS transition to happen this year (a multistage launch that we are partway through). On top of that, there's other more specialised NFT blockchains like flow which are becoming very popular.