Author: Jeff Garzik 2013-05-14 16:50:27
Published on: 2013-05-14T16:50:27+00:00
In a discussion about Bitcoin in May 2013, Jeff Garzik explained that the miner's reward for processing transactions is the sum of all per-transaction fees and the initial currency distribution of 25 BTC. The remainder of a transaction when input value exceeds output value is the transaction fee which is paid to whoever mines the transaction into a block. However, the protocol prevents zero-output, give-it-all-to-the-miner transactions. The evaluation of this largely depends on the needs of the service in question. In a decentralized identity system example given by Adam Back, one only needs to prove to the cloud that they sacrificed some bitcoins to any-miner, making the confirmed, in-chain, non-coinbase transaction the root node for off-chain identity data. If a user withholds the sacrifice transaction, their decentralized identity may not be created. It was suggested that the output sum > 0BTC limitation could be changed to >= to allow for closer approximation of give-to-miner transactions.
Updated on: 2023-06-06T16:48:42.856764+00:00