> The term “proof of work” is apt. The work is the proof. Finding a valid hash demonstrates that you did the computational work to find it.
This whole article equates Proof of Work with hashing.
But the term Proof of Work is more general than the particular instance used in Bitcoin (Hashcash).
Other forms of Proof of Work require finding a solution to a puzzle after fixing the header and nonce. For example, Cuckoo Cycle requires finding a 42-cycle in a huge bipartite graph.
That doesn't help (unless you burn a significant part of the fees), since
the miner will just pay plenty fees on all the dummy txs that they simply end up paying to themselves.
Okay, now 35% of fees are clipped/burned. That directly addresses the concern because self‑fee recycling becomes clearly loss‑making, while miners still keep 65% of fees so fee incentives remain meaningful during demand spikes with 10‑second blocks and a 10–50 base reward range. ty for feedback btw
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