Notes

The block header holds information regarding the parent block in the chain.
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The coinbase transaction is a transaction that awards new bitcoins to the miner who found the block. These bitcoins are rewarded by transaction fees. This transaction cannot be included in a block because it would contain more than one input.
Transactions: Each transaction contains two parts, the inputs (addresses that fund the transaction) and the outputs (addresses that receive the funds). The inputs' script determines how and to whom they are transferred. For example, a P2SH (pay to script hash) input is one type of script, which allows sending bitcoins to two different recipients by checking a hash (a value derived from the data) of a script for equality.: ch.
Scripts: Scripts contain bytecode, and these bytecode instructions are processed in a deterministic way when the script is executed. (The standard script is a P2SH, which means that the script can be reused even when the destination address is changed.)
ScriptPubKey – A script allows for conditional payments. For example, the script can be to return the input value if a given condition is met.

Fees

Block size

In August 2015, programmer Nic Stucki demonstrated the use of a FPGA-based computer to solve the problem of increasing bitcoin block size. The demonstration showed that the configuration could be completed within a day, and mined a block that contained a transactions which used 50% more space than the average block size. The block also had a reward that was 0.00000000000000426 bitcoin more than an average block would have been rewarded.

The FPGA-based computer was estimated to be 15,360 times faster than the average desktop computer, and the hardware used in the demonstration is estimated to be able to mine blockchains with a 4 MiB block size limit within 16.8 days. This demonstration showed that a FPGA can outmine a Graphics Processing Unit (GPU), which is used by a large number of bitcoins miners. The FPGA used in the demonstration was estimated to be 25.6 times faster than the fastest GPU.

Network usage


Bitcoins are originally created at a rate of one new bitcoin to 210,000,000 of the previous bitcoin. After all coins are created, the maximum supply will be limited to 21 million. The block reward, therefore, will decrease by half every 210,000 blocks, until a block reward of zero is reached after approximately
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