Jae Kwon

Okay, so if you look at Bitcoin and where the money's going and the economy of it, you see that the block reward is a hefty, like, hundreds of millions of dollars a year, if not a billion at this point, of rewards.

And the transaction fees, in comparison...

are much smaller.

Since my Bitcoin miners don't care about the transaction fee right now, they don't care too much because the inflationary reward of Bitcoin is much greater.

And they're able to burn energy to wind blocks because it's worth it for them.

Yeah, yeah.

And I hear and I read that a lot of this energy now is coming from power plants that have excess energy.

So that's kind of cool.

You know, it's not like we're in that case, maybe we're not wasting it entirely.

Okay, well, proof of work is, you know, this, this industry of securing the Bitcoin blockchain, as well as many other blockchains.

But it's got its drawbacks.

It's slow, it's energy intensive, it's expensive, literally.

Tendermint is a replacement.

It's an alternative to proof of work.

It's a way to have a secure distributed ledger without having to burn energy to try to win a lottery ticket.

Yes, exactly.

We don't call them miners in the proof-of-stake Tendermint world.

What do you call them?

Validators.

They validate the block, and they sign off.