Ethereum: why don’t minors pay more for high value transactions?
In a blockchain system such as Ethereum, high value transactions are generally faster, cheaper and safer than those of low value. However, despite this, miners continue to charge similar commissions for all transactions regardless of their value or priority. So why is it so?
The current Blockchain architecture
Ethereum’s current architecture is based on a consent mechanism called Proof of Work (POW). In power, the nodes on the network compete to solve complex mathematical enigmas, which require significant computational power and energy consumption. This energy expenditure is used to ensure blockchain and validate transactions.
Because miners get equal taxes for all transactions
Miners do not necessarily charge more for highly value transactions due to the lack of economic incentives or the desire to maintain equal commissions in all transactions. Instead, there are several basic reasons:
- Network effects : Ethereum value lies in its decentralized network and in the safety it provides. The miners benefit from the effects of the network, in which their computational power and energy expenditure contribute to maintaining the integrity and safety of the blockchain.
- POW difficulty adjustment : POW’s level of difficulty is periodically adjusted according to the number of miners who solve the puzzles. This adjustment guarantees that the lock time remains in a reasonable interval, allowing rapid processing of transactions and maintaining the efficiency of the overall network.
- Energy consumption
: while high value transactions can take more time for the process, generally require more energy than those of low value. However, the fixed block time (e.g. 15 seconds) in Ethereum is designed to balance energy consumption with the transaction speed.
4 By charging equal commissions for all transactions, miners can maintain a relatively stable flow of revenue regardless of the value or priority of each transaction.
The case for higher commissions for high value transactions
The implementation of higher commissions for high value transactions would encourage miners to give priority to these transactions and increase the overall efficiency of the network. Here are some potential benefits:
- Reduced congestion : By loading more due to high value transactions, miners may have less likely to block or delay transactions with low value, reducing congestion on the network.
- Increase in revenue : higher commissions could generate additional revenues for miners, which can therefore be used to invest in new hardware, optimize their mining process and improve the overall system efficiency.
- Safety of the improved network : By giving priority to high value transactions, miners could become more vigilant on safety threats, reducing the risk of exploit or harmful activities.
Conclusion
In conclusion, the same taxes for all Ethereum transactions are the result of the architecture of the network, the consumption of energy, the adaptation of the difficulty and the profitability of the miners. Although it may seem counterintuitive that miners do not charge higher commissions for high value transactions, these factors contribute to maintaining the safety, efficiency and general health of the blockchain.
Since Ethereum’s ecosystem continues to evolve, it is possible that changes in the architecture of the network or in the new mining algorithms can lead to structures to more differentiated commissions. However, until then, the same taxes will remain a fundamental aspect of the decentralized system of Ethereum.