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No, it doesn't. Transaction processors are paid by the proceeds from mining. That only lasts until the bitcoin cap is reached. Then they will start charging to
by codexb 3y ago
No, it doesn't. Transaction processors are paid by the proceeds from mining. That only lasts until the bitcoin cap is reached. Then they will start charging to process the blockchain.
- unboxingelf 3y agoTransaction processors are paid by the proceeds from mining The miner that wins the block gets the sum of the transaction fees and the block reward. Once all Bitcoin has been dispersed and the subsidy is done, miners only get transactions fees.
- codexb 3y agoYes, which means once block rewards are no longer subsidizing transactions, those fees will need to increase.
- pixelpoet 3y agoAgreed, besides the many other problems with PoW. What about Ethereum and the many improvements it's making to scalability? Of course it's not solving the exact same problem (e.g. fraud protection), but it does seem like a basis for payment services which can.
- unboxingelf 3y agoEthereum is essentially a private tech company. Proof of Work is the innovation that solves the distributed consensus problem. It’s a feature not a bug.