Ep. 15 [Block-creation] Each Block-candidate includes a Coinbase-transaction.

Note
Gain a fundamental understanding of Cryptocurrency in an easy way. Before continue reading the story, I recommend to take a couple of minutes and read through the prior article again in order to refresh your present knowledge. The more often you read through the stories, the more confident you will get with the technology behind cryptocurrencies like Bitcoin. Take your time, to understand cryptocurrencies, as a Steemian it's worth it. The pictures are drawn by @RatzFratz, thanks for that!
If something in the story is not clear to you, don’t hesitate to ask. There are several people who might have the same question. So shoot me a comment, if something is unclear. Me and other readers will appreciate it!

So in the last episode we saw that a Bitcoin-Miner creates a block-candidate for the mathematical-contest( Bitcoin-Mining).

Now I want to answer the question, why a Bitcoin-Miner is actually creating this Block-candidate. Well, it is simple:

Remember we said that a Bitcoin-Miner gets rewarded with Bitcoin when he solves a mathematical-solution first. Lets see how the reward is actually being created. The consensus rules of the Bitcoin-Network says that every miner which creates a block-candidate can create one Bitcoin-Transaction out of thin air with a specific fixed amount of BTC ( current reward: 12.5 BTC) and include it in his block-candidate. This is how the Bitcoin-Miner actually gets his reward.

This new transaction is called a"Coinbase"-Transaction. It is the new created Bitcoin-Reward send to the miner itself.

So this new created "Coinbase"-Transaction is in the block-candidate the miner created. In order to make the reward real, the block-candidate must be attached to the consensus existing Blockchain. In order to attach to the current Blockchain, this block must fullfill some requirements. This requirements are defined as the Consensus-Rules in the Bitcoin-Network. Every honest Full-Node follows this protocol-rules. Some of these rules state how a block-candidate has to look like and what it has to include in order to accept it as a valid block and attach it to his local blockchain.

The miner knows that every honest full-node out there is following these certain rules. And to fullfill these rules is the only way that these full-nodes will accept the received block-candidate ( which includes the reward for the miner) and attach it to their local blockchain. So the miner has a vested interest to follow the consensus rules to not endanger his reward.

If you you think cryptocurrencies are the new money of the world, upvote and please share this story!