Author: Pedro Worcel 2015-05-12 21:24:41
Published on: 2015-05-12T21:24:41+00:00
In a Bitcoin-development mailing list, Gavin Andresen proposed four plausible future scenarios for how mining incentives might work. These scenarios include fee-supported with very large blocks containing lots of tiny-fee transactions, proof-of-idle supported, fees purely as transaction-spam-prevention measure, chain security via alternative consensus algorithm and fee supported with small blocks containing high-fee transactions moving coins to/from sidechains. He believes it's better not to "bet on one horse." However, Pedro questioned the move away from Proof of Work, which was the breakthrough that made Bitcoin possible at all. Thomas Voegtlin agreed with Gavin's roadmap but noted that there is a need for the same kind of thing for miners' incentives.
Updated on: 2023-06-09T20:40:03.979902+00:00