Do miners receive a reward when solving the hash for the next block or when validating the block, or both?

by MSiric   Last Updated August 05, 2018 16:27 PM

Let's say I want to make a transaction to my friend Bob.

When I send 10 BTC to Bob, a transaction is signed with my signature and sent to the network.

What happens next?

Do miners check if this transaction is valid (check if I have enough funds)?

If they do, do they receive a reward for this?

When the transaction is considered valid it gets sent to a block with other transactions.

This block is then mined (miners try to find the correct hash from the previous block by solving the problem) and once a miner solves this first, he sends the block to the blockchain.

My question is, if the block is invalid and gets sent to the blockchain, why other miners check if said block is valid?

Does the first miner that "solved" the block wrong get a reward?

What if the block that was solved by this miner validated correctly and was sent to the blockchain.

Why would other miners check if it's correct when the miner already received the reward.

What do they get from checking the solved block if they are already working on the next one?

I'm sorry for the long post but this part confuses me quite a bit. Thank you



Answers 1


Do miners check if this transaction is valid (check if I have enough funds)?

Every node that receives the transaction will validate it, this includes the nodes miners run.

If they do, do they receive a reward for this?

There is no reward for this

My question is, if the block is invalid and gets sent to the blockchain, why other miners check if said block is valid?

They check it precisely to see if it is invalid. If a broadcasted block is invalid, and a miner starts mining the next block using the invalid block as their previous block, the next block mined by them will also be invalid, since it builds upon an invalid block.

This results in them losing any work invested in finding this new block, since it will be rejected by the network.

Does the first miner that "solved" the block wrong get a reward?

They receive a certain amount of new Bitcoin + transaction fees in the coinbase transaction.

Why would other miners check if it's correct when the miner already received the reward.

If they don't validate it, and it turns out to be incorrect, even if they succeed in finding the next block, they will receive nothing in return since it will be rejected for using an invalid block as the previous block.

What do they get from checking the solved block if they are already working on the next one?

A guarantee that if they solve the next block, it will not be rejected for building on an invalid block.

Raghav Sood
Raghav Sood
August 05, 2018 16:08 PM

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Updated December 29, 2017 16:27 PM