Such a long-term regression of network difficulty means nothing else that transaction revenue from active users is not able to fund current network security anymore for both: active and passive users. Delaying of halving is simply: not introducing additional more damage to the network security.
as a side note: it's really a conservative approach then - and would fit to Bitcoin, in fact.
And obviously we are approaching post-subsidy era gradual way, so this so simple mechanism above will trigger in the moment of passing equilibrium described above. And effectively we will stay in this equilibrium, having simultaneously:
as low on-chain fees as possible
as low subsidy as possible
...while keeping the network security robust and all that balanced by the free market (in its finest) between these two competing parties.
Such a long-term regression of network difficulty means nothing else that transaction revenue from active users is not able to fund current network security anymore for both: active and passive users. Delaying of halving is simply: not introducing additional more damage to the network security. as a side note: it's really a conservative approach then - and would fit to Bitcoin, in fact.
And obviously we are approaching post-subsidy era gradual way, so this so simple mechanism above will trigger in the moment of passing equilibrium described above. And effectively we will stay in this equilibrium, having simultaneously:
...while keeping the network security robust and all that balanced by the free market (in its finest) between these two competing parties.