QuotableSatoshi on Nostr: By convention, the first transaction in a block is a special transaction that starts ...
By convention, the first transaction in a block is a special transaction that starts a new coin owned by the creator of the block. This adds an incentive for nodes to support the network, and provides a way to initially distribute coins into circulation, since there is no central authority to issue them. The steady addition of a constant of amount of new coins is analogous to gold miners expending resources to add gold to circulation. In our case, it is CPU time and electricity that is expended.
Published at
2024-09-13 00:21:01Event JSON
{
"id": "46af7be3b5ede1c3b4f2956c9861990e5f5ce2cdc818b67d15f5b61d1b77708b",
"pubkey": "87570647ca3b7549e66cb6c4bb8d197f5bc91de73b58eb1ade78c8ddd5fec7eb",
"created_at": 1726186861,
"kind": 1,
"tags": [],
"content": "By convention, the first transaction in a block is a special transaction that starts a new coin owned by the creator of the block. This adds an incentive for nodes to support the network, and provides a way to initially distribute coins into circulation, since there is no central authority to issue them. The steady addition of a constant of amount of new coins is analogous to gold miners expending resources to add gold to circulation. In our case, it is CPU time and electricity that is expended.",
"sig": "1d8b9b15652570d3a5bc5be0a6dec551263207d88573331c37df675e1fbc135c4b40c81c4ae561551e759878cc39064a1bdd1b62f9f2bd4e23227aff6868ed4c"
}
