Author: jk_14 at op.pl 2023-03-02 22:27:40
Published on: 2023-03-02T22:27:40+00:00
A member of the Bitcoin community has proposed a new protocol rule, min_fees, to achieve a socially optimal equilibrium between transactional tax-paying active users and passive stakeholders who pay inflation tax. The proposal is aimed at benefiting the network security in the long term. According to the proposer, transaction fees are currently low because everyone wants high fees but doesn't want to be the only one paying them. The proposed solution would require miners to append a min_fee field to each block they mine, specifying the minimum fees that need to be contained in the following block for it to be valid. The proposal warrants a deeper analysis and discussion. Meanwhile, there are only two significant issues with Bitcoin: weak long-term security budget and quantum threat. A delay of halving in case of network global hash rate regression could benefit network security in the long term.
Updated on: 2023-06-16T15:58:12.603907+00:00