TLDR
Blockchains can nowadays have many forms from private and permissioned to public and permissionless or anywhere in between. In Bitcoin, miners are incentivized and rewarded to secure the network by transaction fees and newly minted coin for their POW work. The number of resources needed to mine under Bitcoin POW has resulted in barely profitable and unfamous centralized mining operations while the requirement of running a full node is affecting participation in the network. In fact, one could argue that nodes are encouraged to hoard the coins as their only remuneration will come from the appreciation of bitcoin.via the TL;DR App
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Written by blocksadvisors | CryptoAssets, Industry Dynamics & Their Evolution Within Financial Markets.
