Very strange, but sounds interesting for me.
"Oracle has a dynamic fees policy that is determined by the kernel reflecting the free market. Fee policy as acts as a tool of supply control and miner incentivization, the kernel can set fee rates that can help further incentivize miners, or in some cases reign in inflation."
But does that means that sometimes fee can be lower than miners want?
"Rewards are controlled by the kernel and are recalculated once a cycle, in the beta version, the aspiration is to make it real time."
I dont like this moment. uncertainty of rewad it's very bad for all chain. Who want to mine if he don't know which reward he will receive? Sometimes more, sometimes less. It's bad for business.
"AI will operate the blockchain independent of any forms of hard coded parameters"
Sounds scary. Like skynet or something. Where garantees that this AI will not go wrong?
Hello
You are quite right, fees are incentive for miners in typical cryptos, but here they also have other roles such as helping to manage the overall supply. If you remember Bitcoin before CORE took over, fees were optional so what i am suggesting is not too radical, it's just a different approach to the issue. Fess in Oracle, can be high, moderate or even go down to zero. The thing is the fee rate is part of consensus, thus across the network, the fee is the same, miners cannot discriminate transactions since they all have the same fee per kb.
I disagree with you when it comes to the reward issue, firstly the purpose of mining is not to reward the miners. Actually the purpose of mining is processing of transactions and securing the chain by producing subsequent blocks. Miners are simply paid to do this. The money supply control mechanism in most coins is actually the "halving" concept. in our case, we want strict control of money supply so that it makes sense and reflects current financial conditions. This means that if there is a slump or boom IRL
the chain will reflect this. The way i am setting up the network is such that there is little reliance on mining, since PoS (which is less resource intensive) is available.
You need not worry about this AI taking over the worls. It is not a GAI it is a NAI.
Thanks for coming in the thread and feel free to ask any questions you may have.
