Key Points
- The fourth Bitcoin halving block has been confirmed with an additional reward of 37.6256 BTC ($2.4 million).
- Miners competed intensely to secure the historic fourth halving block, potentially incorporating unique features.
The latest halving block of Bitcoin (BTC) has been verified. The block, believed to originate from the crypto mining pool ViaBTC, included an extra reward of 37.6256 BTC ($2.4 million) paid as transaction fees.
Despite the confirmation, there is a small chance that this block could be altered due to a process known as chain reorganization. This happens when two miners verify a block on the blockchain simultaneously.
Halving Block Competition
Owing to the historic nature of the fourth Bitcoin halving block, there was heightened competition among miners to secure it. It was anticipated that the successful miner might incorporate unique elements into the block.
The latest Bitcoin halving introduced new tools, such as “Ordinals” and “Runes”. These allow miners to embed images or other metadata into a specific Bitcoin block.
Teddy Fusaro, president of Bitwise Invest, speculated that major mining pools and miners may have planned something special for this block. Juan Leon, a researcher at Bitwise Invest, expressed his wish to see a block containing data that illustrates the amount of US dollars printed in the last four years. This, he suggested, would highlight the contrast with Bitcoin’s programmatic monetary policy, which has successfully managed inflation throughout its history.
