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Bitcoin can't always be proof-of-work. Given the capped supply, the mining rewards will eventually diminish to the point that the network is no longer secure. I
by pants2 2y ago
Bitcoin can't always be proof-of-work. Given the capped supply, the mining rewards will eventually diminish to the point that the network is no longer secure. It will have to transition to proof-of-stake or some other mechanism long before that happens.
- tromp 2y agoIt intends to rely on fees, i.e. to have a constant backlog of high fee paying transactions. We'll see how that plays out within a few decades as the block subsidy becomes insignificant.