[Blah-Chain : Talk23. How Much Are Rewards in a Blockchain?]
From the last episode, we have learned that public blockchains provide a specific amount as a reward, which then lead up to more difficult math problems.
Then how many rewards do these public blockchains provide?
The Blockchain was created to improve upon the problems of the current financial system. Therefore has a strict issue amount and rules. The amount of issued as rewards depends on the type of the Blockchain.
Most blockchains have their own total amount of issuance, and from the amount can be mined according to its own rules.
For example, Stellar Lumens, unlike most public blockchains, uses a system that the central institution can adjust the rewards and supply.
Moreover, in the case of Ethereum, the issue amount is not limited. In contrast from Stellar Lumens, the rate of inflation is fixed and doesn’t have a centralized body to control the supply.
When blockchain was created for the first time, it aimed at decentralization which can’t cause hyperinflation by issuing imprudent currency from central banks.
Distributed users determine the issue amount of rewards without any control from anyone, so it prevents the possibility of centralized powers to intervene.
Furthermore, anyone can participate in the blockchain system through mining, and the blockchain can secure its decentralization, openness, and fairness of the issued currency.
