Eric SJ
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Infrastructure Research丨Why is the Bitcoin Ecosystem Imperative?
Bitcoin$BTC is already 9w1, why don’t people seem to be excited? Especially those who focus on the Bitcoin ecosystem~
In fact, as Bitcoin reaches new highs, the development of the Bitcoin ecosystem is becoming increasingly important, which has a lot to do with the choice of its underlying consensus mechanism. Because the proof of work adopted by Bitcoin is based on block rewards, but more than one million Bitcoins have been mined. Although this is not achieved in the short term, for the moment, there is actually a sense of urgency.
In the later stage, there will be no block rewards, and the main source of rewards for mining machines will only be transaction fees. At this stage, the demand for Bitcoin's on-chain transaction fees is not high. If this trend continues, more mining farms may be eliminated in the future, and security issues may even arise.
In fact, as Bitcoin reaches new highs, the development of the Bitcoin ecosystem is becoming increasingly important, which has a lot to do with the choice of its underlying consensus mechanism. Because the proof of work adopted by Bitcoin is based on block rewards, but more than one million Bitcoins have been mined. Although this is not achieved in the short term, for the moment, there is actually a sense of urgency.
In the later stage, there will be no block rewards, and the main source of rewards for mining machines will only be transaction fees. At this stage, the demand for Bitcoin's on-chain transaction fees is not high. If this trend continues, more mining farms may be eliminated in the future, and security issues may even arise.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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