Author: s7r 2015-10-14 10:14:33
Published on: 2015-10-14T10:14:33+00:00
The author of the message is discussing their understanding and curiosity about the Lightning Network and the necessary BIPs for deployment. They note that the Lightning Network is a solution to scaling issues and provides almost instant transactions in a distributed, peer-to-peer, and trustless manner. However, the author poses a question regarding the impact on miner fees if transactions are processed off-chain and only broadcasted on the mainchain. With less transactions on the mainchain, there will be fewer fees collected by miners. The author then raises concerns about the implications once the block reward goes away. They speculate that either fees will increase to unpractical levels for the little amount of on-chain transactions or miners may find it not profitable to continue mining, leading to a decrease in hashing power. As hashing power is a security feature of the network, the author believes it's important to anticipate what will happen in this scenario.
Updated on: 2023-06-11T00:11:45.690187+00:00