This is an opinion editorial by Dillon Healy, a member of the institutional partnerships team at Bitcoin Magazine and The Bitcoin Conference.

A topic that has received increased attention lately is the concern around Bitcoin’s future “security budget.”

This mainly stems from the worry that miner revenue will not be enough to offer adequate security in the future, post block subsidy. Bitcoin miners play a crucial part in securing the network by proposing blocks of transactions which nodes then verify, accept and update to the Bitcoin ledger. Competing against other miners to propose this new block to the chain, miners use intense computing power to complete the proof-of-work consensus algorithm, and win the right to propose the new block.

By pplny

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