Post
Topic
Board Development & Technical Discussion
Merits 1 from 1 user
Topic OP
why is the transaction that creates new bitcoin called the coinbase transaction?
by
TrueBeliever
on 17/08/2015, 01:11:03 UTC
⭐ Merited by ABCbits (1)

When a block is created new bitcoins are also created and assigned to the miner who found the block.  to my knowledge this is done by including what is called the "coinbase transaction" in the block.

The company coinbase.com was formed in June 2012, well after the invention of bitcoin, and Satoshi's white paper does not refer to any such 'coinbase transaction'.

Can someone with factual knowledge of how this came to be please enlighten us?