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judymcconville@roadrunner.com 2017-05-02 10:28:11 -07:00
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@ -189,7 +189,7 @@ $ bitcoin-cli getblock 0000000000000001b6b9a13b095e96db41c4a928b97ef2d9\
==== The Coinbase Transaction
((("coinbase transactions", id="coinbtrans10")))((("transactions", "coinbase transactions", id="Tcoinb10")))The first transaction in any block is a special transaction, called a _coinbase transaction_. This transaction is constructed by Jing's node and contains his _reward_ for the mining effort.
((("coinbase transactions", id="coinbtrans10")))((("transactions", "coinbase transactions", id="Tcoinb10")))((("mining and consensus", "aggregating transactions into blocks", "coinbase transactions")))The first transaction in any block is a special transaction, called a _coinbase transaction_. This transaction is constructed by Jing's node and contains his _reward_ for the mining effort.
[NOTE]
====
@ -242,7 +242,7 @@ Unlike regular transactions, the coinbase transaction does not consume (spend) U
==== Coinbase Reward and Fees
To construct the coinbase transaction, Jing's node first calculates the total amount of transaction fees by adding all the inputs and outputs of the 418 transactions that were added to the block. The fees are calculated as:
((("mining and consensus", "aggregating transactions into blocks", "coinbase reward and fees")))To construct the coinbase transaction, Jing's node first calculates the total amount of transaction fees by adding all the inputs and outputs of the 418 transactions that were added to the block. The fees are calculated as:
----
Total Fees = Sum(Inputs) - Sum(Outputs)
@ -291,7 +291,7 @@ If Jing's mining node writes the coinbase transaction, what stops Jing from "rew
==== Structure of the Coinbase Transaction
With these calculations, Jing's node then constructs the coinbase transaction to pay himself 25.09094928 bitcoin.
((("mining and consensus", "aggregating transactions into blocks", "coinbase transaction structure")))With these calculations, Jing's node then constructs the coinbase transaction to pay himself 25.09094928 bitcoin.
As you can see in <<generation_tx_example>>, the coinbase transaction has a special format. Instead of a transaction input specifying a previous UTXO to spend, it has a "coinbase" input. We examined transaction inputs in <<tx_in_structure>>. Let's compare a regular transaction input with a coinbase transaction input. <<table_8-1>> shows the structure of a regular transaction, while <<table_8-2>> shows the structure of the coinbase transaction's input.
@ -324,7 +324,7 @@ In a coinbase transaction, the first two fields are set to values that do not re
==== Coinbase Data
Coinbase transactions do not have an unlocking script (a.k.a., +scriptSig+) field. Instead, this field is replaced by coinbase data, which must be between 2 and 100 bytes. Except for the first few bytes, the rest of the coinbase data can be used by miners in any way they want; it is arbitrary data.
((("mining and consensus", "aggregating transactions into blocks", "coinbase data")))Coinbase transactions do not have an unlocking script (a.k.a., +scriptSig+) field. Instead, this field is replaced by coinbase data, which must be between 2 and 100 bytes. Except for the first few bytes, the rest of the coinbase data can be used by miners in any way they want; it is arbitrary data.
In the genesis block, for example, Satoshi Nakamoto added the text "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" in the coinbase data, using it as a proof of the date and to convey a message. Currently, miners use the coinbase data to include extra nonce values and strings identifying the mining pool.