Other than that, you just need to be sure that the sum of your output values does not exceed the block reward + transaction fees you’re collecting. 1, 2 (Because we do not have to unlock anything).
Person who gives the gift: You can gift crypto up to 15,000 per recipient per year without paying taxes. (Again, because we’re not trying to refer to an existing output). When you do, your cost basis will be the same cost as the person who gifted it to you. The VOUT is all f’s (the maximum hexadecimal value for this field).This temporarily prevents a miner from spending the transaction fees and block reward from a block that may later be determined to be stale (and therefore the coinbase. The UTXO of a coinbase transaction has the special condition that it cannot be spent (used as an input) for at least 100 blocks. (We’re not referencing an existing transaction) Coinbase transaction's 100-block cooldown period. StructureĪ coinbase transaction is only slightly different to normal transaction data. Every block must have a coinbase transaction. When a miner creates a candidate block, the very first space for a transaction is reserved for the coinbase transaction. It’s like putting your details on a self-addressed envelope so you can collect prize winnings. Miners use it to collect the block reward, and any additional transaction fees. What is proof of history As you may know, Bitcoin uses a consensus mechanism called proof of work, which uses miners to validate transactions and produce new BTC.
A transaction used to claim a block reward.Ī coinbase transaction is the first transaction in a block.
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