What is Bitcoin block?

Interesting facts about Bitcoin Blocks:

1. Time Between Blocks: It takes about 10 minutes to create a new block in the Bitcoin system, forming the basic structure of its digital ledger.

2. Reward for Miners: Miners get new bitcoins as a reward for successfully adding a block. This reward reduces by half roughly every four years in what's known as the "halving."

3. Block Size Limit: Bitcoin blocks have a maximum size of 1 megabyte to control how quickly new blocks are added to the ledger.

4. Mining Difficulty: The difficulty of mining adjusts every two weeks to keep the average block creation time at around 10 minutes, ensuring the stability of the Bitcoin network.

5. Merkle Tree: Each block has a Merkle tree summarizing all its transactions, making it easy to check if the included transactions are valid.

6. Nonce: Miners tweak a parameter called the nonce to find the right hash for a block, a process known as proof-of-work.

7. Timestamp: Blocks include a timestamp indicating when they were created, helping maintain the order of transactions in the ledger.

8. Previous Block Hash: Each block contains the hash of the previous one, creating a chain of blocks and ensuring the integrity of the whole ledger.

9. Transaction Data: Blocks have a list of valid transactions, forming the decentralized ledger.

10. Block Header: The block header contains various details like version, previous block hash, Merkle root, timestamp, difficulty target, and nonce, crucial for validating the block and securing the blockchain.

Bonus: Bitcoin Block NFT
https://bit.ly/3Hq6Eec

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