How Bitcoin Miners Are Rewarded for Solving a Block
This article explains the process by which Bitcoin and cryptocurrency miners receive compensation for successfully solving a block, including details on transaction fees and block rewards when the transaction pool is nearly full.
Ryan McBeth
311.4K views • Feb 4, 2022
About this video
How do Bitcoin and cryptocurrency miners get paid for solving a block?
When the transaction pool gets close to the maximum number of transactions, the miner adds a reward to himself in the last transaction. If the miner solves the block, the reward is conjured out of thin air.
It's literally money out of nothing!
When the transaction pool gets close to the maximum number of transactions, the miner adds a reward to himself in the last transaction. If the miner solves the block, the reward is conjured out of thin air.
It's literally money out of nothing!
Video Information
Views
311.4K
Likes
18.0K
Duration
0:58
Published
Feb 4, 2022
User Reviews
4.7
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