wizz on Nostr: Empty Block: An empty Bitcoin block is a block that has no transactions and the only ...
Empty Block:
An empty Bitcoin block is a block that has no transactions and the only transaction in it is the Coinbase transaction that rewards miners.
To create a new block, miners must fill it with transactions. These transactions are located in a space called Mempool. Each miner transfers their selected transactions from the pool to the block. Now, if a miner extracts a block without putting a transaction in it, we say that it has extracted an empty block
Mining the empty block of Bitcoin is one of the technical events that occur in the network of this digital currency
Mining an empty block of Bitcoin is logically not cost-effective for miners
However, at times and for some reason, miners mine an empty block.
The whole purpose of the Bitcoin network is to process transactions; Therefore, mining an empty block can be considered inappropriate behavior. The reason for this issue is that instead of first validating the new block according to the natural process of block creation and then moving on to the next block, the miner keeps the validation pending and starts proving the work of the next block. This takes away the opportunity from honest miners.
However, from one point of view, empty block mining can be considered as a kind of balancer for the centralization of the network
An empty Bitcoin block is a block that has no transactions and the only transaction in it is the Coinbase transaction that rewards miners.
To create a new block, miners must fill it with transactions. These transactions are located in a space called Mempool. Each miner transfers their selected transactions from the pool to the block. Now, if a miner extracts a block without putting a transaction in it, we say that it has extracted an empty block
Mining the empty block of Bitcoin is one of the technical events that occur in the network of this digital currency
Mining an empty block of Bitcoin is logically not cost-effective for miners
However, at times and for some reason, miners mine an empty block.
The whole purpose of the Bitcoin network is to process transactions; Therefore, mining an empty block can be considered inappropriate behavior. The reason for this issue is that instead of first validating the new block according to the natural process of block creation and then moving on to the next block, the miner keeps the validation pending and starts proving the work of the next block. This takes away the opportunity from honest miners.
However, from one point of view, empty block mining can be considered as a kind of balancer for the centralization of the network