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Home»ADOPTION NEWS»Bitcoin’s fourth halving block will result in an additional reward of $2.4 million in fees.
ADOPTION NEWS

Bitcoin’s fourth halving block will result in an additional reward of $2.4 million in fees.

By Crypto FlexsApril 20, 20243 Mins Read
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Bitcoin’s fourth halving block will result in an additional reward of .4 million in fees.
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Posted 1 minute ago In ~

fourth in history Bitcoin BTC

+5.05%
Half-life block confirmed.

According to a Bitcoin blockchain explorer on Blockchain.com, the halving block appears to have come from cryptocurrency mining pool ViaBTC, and was worth 37.6256 BTC ($2,401,399) in “rewards paid as fees for the 3,050 transactions included in the block.” Additional payment will be made.

Obviously, this block may change after it has been confirmed. Although unlikely, a block can undergo something called chain reorganization, which occurs when two miners confirm a block on the blockchain at almost the same time. This could happen and cause a fork in the blockchain, as there was fierce competition among miners to secure the first halving block. To learn more about the halving block, individuals will have to wait until more transactions take place.

Half-Life Block Competition and Speculation

The race between miners has intensified again to see who will secure the historic fourth Bitcoin halving block and do something unique with it.

This year’s Bitcoin halving will feature new tools called “ordinals”, which are smaller units of Bitcoin created with associated metadata, and “runes”, which are more efficient token creation built on top of Bitcoin. These tools allow miners to associate images or other metadata from specific Bitcoin blocks.

“We are confident that both the major miners and major miners have something special in store,” Teddy Fusaro, president of Bitwise Invest, said in The Block space. conversation A few hours before the halving on Friday. “I think anyone lucky enough to get this block will get a special treat from us when it goes to print.”

In the same conversation, Bitwise Invest researcher Juan Leon added, “I would like to see data submitted to one of the blocks showing a chart of the amount of US dollars printed over the past four years.” “I would like to point out that this contrasts with Bitcoin’s deliberate monetary policy, which has historically been the only asset that has been able to successfully manage inflation.”


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

MK Manoylov has been a reporter for The Block since 2020, joining just before Bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for publications covering all cryptocurrency-related news, preferring NFTs, metaverse, web3 games, fundraising, crime, hacking, and cryptocurrency ecosystem stories. MK holds a graduate degree from New York University’s Science, Health, and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. X You can follow MK at @MManoylov and on LinkedIn.

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