Capital Costs Protect the Network: Mining Gap Dynamics in Proof-of-Work Blockchains Under a Stochastic Mempool

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arXiv:2610.22451v1 Announce Type: new Abstract: Proof-of-Work blockchains increasingly rely on transaction fees to keep miners engaged as block subsidies decline. An immediate outcome of this is that miners may sit idle at the start of a round until enough high-fee transactions accumulate in order to make mining worthwhile. This idle period is known as the mining gap. We model the high-fee transaction backlog as a Lindley-type recursion under a two-tier fee market and use its stationary distrib