Author: jk_14 at op.pl 2022-08-18 20:22:30
Published on: 2022-08-18T20:22:30+00:00
The halving in 2020 will not be destructive as the difficulty in 2024 is expected to be higher than in 2020. The removal of halvings in 2028 means that Monero's concept of constant annual supply will lead to a slow decrease in inflation. It is suggested to wait for the bitcoin ecosystem to reach an equilibrium level before adjusting the block reward to keep the annual inflation rate constant. The empirically reached security level is considered the most accurate one, and regression is seen as a sign of weakness. Maintaining Bitcoin's security at the proper level is crucial, and there is a need to estimate the amount of security required. Tail emission does not solve the potential mining rewards problem but can delay it. Blockchain security does not need to increase indefinitely, and there is a need to determine how much security is enough. Adding emission based on a constant fraction of fees in the block could be a solution to the problem of not-enough-fees to upkeep mining security.
Updated on: 2023-06-15T22:31:32.030792+00:00