On-chain Transaction Fees: Why Economics Matter?
by@Vinod Manoharan

On-chain Transaction Fees: Why Economics Matter?

tldt arrow
Read on Terminal Reader
Read this story w/o Javascript

Too Long; Didn't Read

Bitcoin-like blockchains do not come without flaws when viewed from a transaction fee perspective. Fees may be too low to cover the losses incurred by mining pools, particularly when the block reward tends to zero. Letting users choose their own transaction fees might not be an optimal solution. Users shouldn’t be allowed to set their own fees privately, while all transactions are set up individually. Fees are set by users, miners, and the protocol itself, as we will see below. In the long run, Bitcoin might need high transaction fees in order to function properly and securely (Lavi et al.

Companies Mentioned

Mention Thumbnail
Mention Thumbnail

Coin Mentioned

Mention Thumbnail
featured image - On-chain Transaction Fees: Why Economics Matter?

Vinod Manoharan HackerNoon profile picture

@Vinod Manoharan

Vinod Manoharan

CEO and Founder at Jax.Network http://jax.network

Receive Stories from @Vinod Manoharan

react to story with heart


. . . comments & more!