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Perhaps worth clarifying: emissions are tied to hash rate (and price action), not transaction count which is effectively capped by limited block space. Your pos
by mattdesl 5y ago
Perhaps worth clarifying: emissions are tied to hash rate (and price action), not transaction count which is effectively capped by limited block space. Your post makes it seem that Stripe’s service getting used will quickly increase emissions, but if ETH price and hash rate drops significantly in the coming months, the emissions would also follow suit regardless of transaction count.
I agree though, the tech is currently immature and energy inefficient, and Stripe could have committed to PoS chains (eg: Tezos) if they really wanted to avoid bearing any additional emissions responsibility.
Personally I am happy to see this service, as I currently have to rather painfully roll my own crypto-commerce stack to support ERC20/ETH as a payment option in my business operations, and I would rather a well-engineered product to remove some of this overhead.
- StewardMcOy 5y agoThis is correct. I was using transactions as a standin for demand. As in, Stripe could increase the demand for transactions, which increases gas fees, thus enticing more miners to participate, increasing the hash rate.