Native token as fee equals utility. Whether you want to admit it or not, this is the case. And again, I don’t want to replace PoW or QSR fusing.
Can you post a screenshot where I say this?
I don’t have a narrative. I have plans to make this network sustainable in the long run.
I agree. That’s why we can compute a rough estimate:
Let’s say the network will be able to process 100 TPS and momentums will be at 10% capacity on average => 864000 transactions settled daily
Let’s assume an average fee of 0.02 ZNN per tx (for the fee lane) and that 33% of all transactions are on the fee lane => 5760 ZNN daily for incentivizing public nodes.
FYI current ZNN daily emission is 4320 ZNN that is divided between all network participants (all Pillars, Sentinels, stakers, delegators). Public full nodes will be able to earn much more, creating a market around servicing users. We should also burn a fraction of those fees in order to achieve equilibrium for ZNN.
The numbers are conservative and we can make more accurate simulations, but you get the point.
I don’t seek funding. I seek a comprehensive solution.
This is a cryptoeconomic problem, not a technical one. We can’t solve everything with technical solutions. Bitcoin is amazing because it managed to solve economic and technical problems at the same time.
Yes. Sentinels create PoW links. Full nodes can be Sentinel nodes if they lock collateral. The backbone of the peer-to-peer network are full nodes. Not your node, not your rules.
It’s an amazing first step in the right direction. But not enough.
Sentinels need to lock collateral. You need to be heavily invested into the network to setup a Sentinel node. And Sentinels are fine, they already receive their fair share of rewards from protocol emissions.
But not everyone will have that kind of collateral in the future. The peer-to-peer layer is not incentivized and we already saw that no one except a few members will setup public nodes. This is definitely not sustainable in the long run.