Bitcoin block 800,000 mined — What’s next?
The metric acts as a sequential order of transactions and blocks of the network, with each new block linked to the previous one in the chain. Bitcoins block height also dictates the amount of Bitcoin rewarded to miners for adding a new block to the network. Bitcoins procedure is developed to have block halving events every 4 years, or 210,000 blocks on the chain.Source: NicehashThe preliminary block benefit was 50 BTC back in 2009, before it consequently cut in half to 25 BTC, 12.5 BTC and presently 6.25 BTC in 2012, 2016 and 2020.
The Bitcoin network has actually mined block 800,000, with just 40,000 delegated my own before the networks next mining reward halving.The 800,000 th block included 3721 deals at 1.64 megabytes, with the price of Bitcoin (BTC) trading at $29,815 on July 24, as market scientist Dylan LeClair noted on Twitter: #Bitcoin block 800,000. pic.twitter.com/Yw9c6klqbY— Dylan LeClair (@DylanLeClair_) July 24, 2023
The turning point was widely shared throughout the social networks platform on July 24, with Bitcoin supporters and industry analysts highlighting the milestone as a sign of network security and strength: The #Bitcoin network just produced block number 800,000.800,000 blocks without a main bank. 800,000 blocks without a government.800,000 blocks without a CEO.800,000 blocks without requesting permission. pic.twitter.com/hf8RpC3jlP— Walker ⚡ (@WalkerAmerica) July 24, 2023
Bitcoins block height refers to the area on the blockchain relative to how many blocks preceded it– back to the genesis block, which was the founding block of the network. Blocks contain information and transactions bundled into blocks by network miners.
800,000 blocks without a government.800,000 blocks without a CEO.800,000 blocks without asking for permission. Bitcoins block height refers to the place on the blockchain relative to how many blocks preceded it– back to the genesis block, which was the founding block of the network. Bitcoins block height likewise dictates the amount of Bitcoin rewarded to miners for adding a brand-new block to the network. Bitcoins procedure is developed to have block halving events every 4 years, or 210,000 blocks on the chain.Source: NicehashThe preliminary block reward was 50 BTC back in 2009, prior to it subsequently halved to 25 BTC, 12.5 BTC and currently 6.25 BTC in 2012, 2016 and 2020.