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Crypto journalism | Essentially, Po. Writers are incentivized to write garbage. Untitled Frontiers is the latest to join the crowd. The validator essentially bets their own money to validate a new block, and receives all the transaction fees from the block they were able to validate. It's both a new funding model but also a new way for new media to flourish. Since blockchain networks require lots of computers and computing power, it is perhaps unsurprising to see profitable technology companies mobilizing their readily existent computer infrastructure to provide blockchain services to business partners and customers. This post is part of CoinDesk's Year in Review, a collection of op-eds, interviews and takes on the state of blockchain and the world. |
Crypto journalism | 153 |
Crypto journalism | Nodes in the network are still competing to have their new bundle of data the block added to the chain. Computers store and secure stuff, and people make decisions about the way that stuff is stored and secured. If the data is money, participants will want to make sure that transactions are not recorded twice double spending the same money! In PS, no new coins are mined, and instead validators receive monetary reward in the form of transaction fees this is the incentive to become a validator. Enterprise level services will generally bundle developer tools, cloud computing capabilities, access to a proprietary blockchain protocol, and even a monitoring agency to help with disputes if something goes wrong. It sounds like UF will take some editorial responsibility. |
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