Blockchains, miners and taxes: methods to finance growth?

Money cash cash – The growth of blockchain tasks – in its open supply context and on the decentralized precept – increase quite a few points on common events. Beyond the assorted monolithic foundations of a few of the primary tasks of the ecosystem, extra secondary blockchains could also be tempted to consider the implementation of a tax on the earnings of minors, supposed to finance mentioned growth. This is what fueled the information final week, particularly concerning Bitcoin Cash. But different figures within the crypto ecosystem are additionally asking these sorts of questions.

Bitcoin Cash

For the community Bitcoin Cash, the proposal for a obligatory voluntary contribution (don’t say the phrase tax, sad!) for growth was first proposed by Jiang Zhuoer, CEO of the BTC.TOP mining pool, via a Medium article.

So, in accordance with his proposal, a comfortable fork can be deployed and 12.5% ​​of the block reward to be paid to minors can be used to finance the event of the blockchain, throughout a period of 6 months. At the present worth of $ 390 per unit of BCH, this is able to acquire $ 7.eight million in 180 days.

At first, this proposal was signed by the primary gamers within the Bitcoin Cash community, particularly Jihan Wu from Antpool / BTC.com, Roger Ver from Bitcoin.com and Haipo Yang from ViaBTC. However, shortly after Roger Ver withdrew from settlement, expressing concern over a attainable additional cut up of the BCH channel.

Litecoin’s flip

Shortly after the bomb was dropped by Bitcoin Cash, it was the flip of Charlie Lee – founding father of Litecoin – to participate within the debate and to to propose the same answer, however extra reasonable.

In this case, Charlie Lee doesn’t want to combine donations into the protocol. In his proposal, he imagines a voluntary donation of 1% of block rewards by mining swimming pools with the Litecoin basis. According to him, this is able to symbolize an annual donation of $ 1.5 million.

This proposition takes on a brand new which means after we keep in mind that the Litecoin basis would see his monetary reserves dry up closely these days. Indeed, the latter’s treasury solely contained $ 200,000 final October, and Charlie Lee deplored the attainable closure of the Litecoin basis in 2022.

These proposals, though topic to controversy notably on social networks, increase a sure variety of questions: first, on the sustainable funding fashions for tasks claiming to be “decentralized”, but in addition and above all on their true diploma of decentralization. It now stays to be seen whether or not such measures will finally be applied or adopted by the assorted gamers in these blockchainized ecosystems.

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