Key word “has to do work” as the paper calls those that dont lazy and drops from network. Not free transactions!
Also the defense against attacks doesnt seem too strong compared to PoW with increasing difficulty or PoS?
Yah, it results in needing specialized hardware just to send txns.
Everybody makes mistakes. Takes a man to own up to it.
It would be really nice if you could change the title of the thread. It hurts our community with suggesting that our fees are like putting people in jail. You can edit the title of the tread, rather than leave it here and scare people away.
If you do, say, 3 transactions per day, which will cost you at least 0.01 PPC, that makes 1095 transactions per year, id est 10.95 PPC in fees per year. To cover that costs you have to put at stake for one year in order to mint that amount the number of 1095 PPC. Uh, same number. Coincidence?
Well, minting reward is 1% per year (= per annum = p. a.). That is 0.01 times your PPC put at stake for minting.
Conclusion: If you want to make X transactions per year, you have to own at least X PPC in order to compensate for the fees.