Justin Drake, an Ethereum Foundation researcher, claims that the security model of the Bitcoin network is broken, as transaction fees have failed to reach a significant fraction of the total network earnings, including the block subsidy.
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Ethereum Researcher: Bitcoin Security Budget a ‘Ticking Time Bomb’
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Justin Drake explained that Bitcoin's security model is undermined by the fact that only 1% of miner revenue comes from transaction fees, while 99% depends on block rewards that are halved every four years and will eventually disappear.
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Justin Drake emphasized that Bitcoin's declining transaction fees are shrinking the security budget and could make the network vulnerable
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