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A Coinbase transaction is the first transaction in every new block mined on the blockchain. Created by miners, this transaction includes the block reward and any transaction fees collected from the transactions within the block. The coinbase transaction is unique in that it does not have inputs but only outputs, as it is essentially generating new coins as a reward for miners.
Miners rely on coinbase transactions as their main source of compensation for validating blocks on the network. The newly minted coins from these transactions are an essential part of a blockchain's incentive system, ensuring the continued operation and security of the network. Transaction fees included in the block further reward miners for processing transactions on the blockchain, contributing to its overall decentralization and efficiency.
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While the Coinbase transaction is critical in the mining process, users of the Plena Finance app can benefit by keeping track of such transactions through the app’s analytics features. With its easy-to-use interface, Plena makes it possible for users to stay informed about network activities, including block rewards and transaction fees, without needing to engage directly with mining. This helps users gain deeper insights into the blockchain network while managing their assets efficiently within Plena’s DeFi ecosystem.
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