Author: Andrew 2018-09-17 13:18:53
Published on: 2018-09-17T13:18:53+00:00
Users can set a target hashrate for Bitcoin mining, and as long as the hashrate is rising, miners will incrementally receive reserve fees until the contract times out. If the hashrate remains stable or declines, users get the reserve fees back. The hashrate is linked to the demand for Bitcoin and the amount of fees/subsidies paid to miners, with a limit on the hashrate for each level of mining rewards. New miners may not join when the hashrate is large enough, and merge mining and proof of space can increase efficiency in the future. While it's good to encourage less resource usage, it falls outside the scope of the Bitcoin software protocol.
Updated on: 2023-06-13T14:39:44.848936+00:00