Post
Topic
Board Development & Technical Discussion
Re: Is POW systematically doomed to get a huge monster in its midst?
by
aliashraf
on 11/07/2018, 12:50:35 UTC

Even if you removed transaction fees and put in a perpetual block reward, it would still centralize because of the economics of mining and the power-law distribution of wealth.

By fee-less mining I mean no fee AND no block reward. You can't pay anyone anything. Can't outsource to a third party. Otherwise fighting breaks out.. and in the end.. There can be only One (You know this..).

As far as I can see, without fees, any system would be vulnerable to DoS attack. Got any reference to prove me wrong?

A system like IOTA. The work is the fee. (But not IOTA - as it has it's own quirks. Something new.)


No block reward & no fees <==> tangle (IOTA)
It is true specially considering your underlined(by me) phrase: the fee being the work

IOTA and tangles are out of context. Let's put it this way and stick with our plain old blockchain technology. Note that eliminating transaction fees alone and keeping block rewards or vice versa, won't help your argument about de-incentivizing centralization attempts in bitcoin.