Russ𐤊

That’s called the block reward subsidy. And you obviously no nothing about your protocol because it’s roughly $30 million per day. Not $2.7 million. I know this off the top of my head. Right now: •450 BTC/day from subsidy •~2-3 BTC/day from fees So Bitcoin security today is ~99.5% subsidy. Now look at the halvings: •2028 → 225 BTC/day •2032 → 112.5 BTC/day •2036 → 56.25 BTC/day By that point, fees must exceed 100 BTC per day just to maintain anything close to today’s security budget. I can’t see that happening, can you?

The full vprogs vision of composable zk-based apps requires essentially 4 major building blocks: 1. You need a runtime that can efficiently drive state transitions. 2. You need a way to prove the activity of that runtime. 3. You need a way to settle those proofs on the L1 using covenants. 4. You need a "meta-program" that can invoke and orchestrate user-deployed guests for composability while enforcing certain constraints. We are currently working on step 3. which will already enable programmability but interactions between apps have to go through the L1. The full vprogs vision of synchronously composable based apps will only be achieved once we advance to step 4. It's hard to say how long things will take but so far it took a few weeks for each milestone so I would expect a similar rate of progress.