Ultrasound Money & VRFs with Justin Drake
Zero Knowledge
00:00
What's the Value of the if State?
So we can ask ourselves, where does the value of if even come from? And the way that I think about it is that there's two components. It's kind of the fundamentals, the cash flows. So you can think of a firm as being a business which sells secure block space and people are willing to pay for it with base fees. The income is going to be the total amount of if that's burnt,. That kind of accrues to the if holders and the firm, the network. Now in terms of the expenses of this business, it's basically the cost of securing the blockchain, the cost of providing the product. And that's going-to be the issuance.
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