I’ve came across some articles arguing that it is a good idea to have no block reward at all, but I struggle to understand, how this would work.
I understand that the incentive for miners would be just transaction fees; but how new coins would be created? Even if there would be no new coins as a principle – where any coins come from? From some initial phase of PoW mining/any other initial distribution? If so, doesn’t it give to much advantage for the early nodes (and therefore discourage others to join)?
