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Do You Know That Bitcoin Transaction Fees Go to the Bitcoin Miner?
🪙 Bitcoin transaction fees are an essential component of the blockchain network. When Satoshi Nakamoto created the Bitcoin blockchain, he implemented transaction fees to prevent spam transactions that could slow down and clog the network.
💵 Transaction fees are the difference between the amount of bitcoin sent and the amount received. When a miner validates a new block in the blockchain, they also validate all of the transactions within the block. Once a miner has validated a new block, they receive the transaction fees and block subsidy associated with that block. The sum of the transaction fees and block subsidy is the block reward.
💰 This is a way for Bitcoin to help support network security by keeping miners profitable.
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