Is it possible to create an ERC coin which only offers miners the ability to earn fees from validating transactions? Thus no chance of a block reward.
Are there any coins that currently do this?
(I am assuming the transaction fees offered to the miners would need to be higher for this type of coin to offset the absence of a block reward).
Thanks in advance for any assistance.
Are there any coins that currently do this?
(I am assuming the transaction fees offered to the miners would need to be higher for this type of coin to offset the absence of a block reward).
Thanks in advance for any assistance.
I don't think this is possible with ERC20 coins since they use the ETH network and you cannot remove the ETH block reward from that.
I suppose you can simple just do something like
First 10000 blocks have a 1000 block reward and the blocks following have a block reward of 0. Then you would only get paid with fees.
However this is not smart because if there are no transactions... then there are no fees and most likely no miners and the chain would lead to a halt.
Hence the reason why the block reward exists... so it guarantees that there will be miners.
