Part 3/8:
One might assume that once the last Bitcoin is mined, miners would cease operations. However, this isn't the case. Miners will continue to play a vital role in maintaining the network's security, but their revenue model will shift significantly. Instead of earning block rewards, they will rely solely on transaction fees paid by users when they send Bitcoin across the network.
Currently, transaction fees constitute only about 1.8% of miners' revenue. Nonetheless, as Bitcoin adoption accelerates—used increasingly for payments, custody, and large-scale settlements—these fees are anticipated to grow dramatically. The shift could transform transaction fees into the primary revenue source for miners, ensuring the network remains secure and resilient.