What is Coinbase Transaction?

[Henri Cartier]

A Coinbase transaction is a unique bitcoin transaction that is created by the miners to collect block rewards. And any transaction fees collected by the miners are also sent in this transaction. It is the first transaction in a New block.

• When a miner creates a candidate block, the first space for a transaction is reserved for the coinbase transaction.

• The main difference between normal transaction data and Coinbase transaction is it has no inputs and there is one created with each new block that is mined on the network. This transaction is called as "Coinbase"

• One interesting point is that the "first Coinbase Transaction cannot be spent".There are some theories behind it. The issue here is that the original transaction was not placed in the unspent transaction outputs. Although you can find the transaction in the blockchain, there is no way to spend bitcoins that cannot be found in the transaction database.

• The bitcoins from a Coinbase transaction can be spent only after it has 100 confirmations in the blockchain. This is to safeguard to prevent outputs that originate from the coinbase transaction from becoming unspendable

• Also, you need to make sure that the sum of your output values does not exceed the block reward + transaction fees you're collecting.

>> I found this information very informative and useful. If anyone knows more about this can share your thoughts here.


Source: https://blog.cex.io/bitcoin-dictionary/coinbase-transaction-12088
https://learnmeabitcoin.com/glossary/coinbase-transaction

[BrewMaster]

The main difference between normal transaction data and Coinbase transaction is it has no inputs and there is one created with each new block that is mined on the network. This transaction is called as "Coinbase"[/li][/list]

actually because the structure of a coinbase transaction is no different than other transactions, it also has an input. the difference is that this input is a special one. it uses a 32 zero bytes as its outpoint txid and index of maximum uint32. and the scriptsig can be anything.

• One interesting point is that the "first Coinbase Transaction cannot be spent".There are some theories behind it. The issue here is that the original transaction was not placed in the transaction database unspent tranaction outputs. Although you can find the transaction in the blockchain, there is no way to spend bitcoins that cannot be found in the transaction database.

FTFY

[BitcoinGirl.Club]

So a Coinbase Transaction does not have anything to do with the site coinbase.com? It's just the terminology or I am wrong? I thought it's called virgin bitcoins?

Sorry, if I sound really stupid 😛

[BrewMaster]

So a Coinbase Transaction does not have anything to do with the site coinbase.com? It's just the terminology or I am wrong? I thought it's called virgin bitcoins?

Sorry, if I sound really stupid

no it is not called "virgin bitcoin"! at least i've never heard anybody refer to them in that way. the transaction itself is called "coinbase transaction" and the reward is referred to either as "block reward" or "newly generated coins".

a lot of different bitcoin related websites are using names that are used in bitcoin for protocol or otherwise. some examples: coinbase (exchange and wallet), blockchain (block explorer and wallet), merkle (news site), statoshi (statistics), ...

[bob123]

• The bitcoins from a Coinbase transaction can be spent only after it has 100 confirmations in the blockchain. This is to safeguard the Coinbase transaction to be unspendable.

This is done to protect the network against spending coins which do not exist due to forks.
It does not protect the coinbase transaction itself in any way.

So a Coinbase Transaction does not have anything to do with the site coinbase.com? It's just the terminology or I am wrong? I thought it's called virgin bitcoins?

I never heard the term 'virgin bitcoins'.

The first transaction of a block indeed is the coinbase transaction and is composed of the block reward and the fees.
The exchange coinbase.com has chosen that name because of the term.

[Henri Cartier]

• One interesting point is that the "first Coinbase Transaction cannot be spent".There are some theories behind it. The issue here is that the original transaction was not placed in the transaction database unspent tranaction outputs. Although you can find the transaction in the blockchain, there is no way to spend bitcoins that cannot be found in the transaction database.

FTFY

Noted and corrected it. Thanks

This is done to protect the network against spending coins which do not exist due to forks.
It does not protect the coinbase transaction itself in any way.

Edited it. Thank you!

So a Coinbase Transaction does not have anything to do with the site coinbase.com? It's just the terminology or I am wrong? I thought it's called virgin bitcoins?

Yes, it is not related to coinbase.com. It's just the terminology.

I have not heard the term "virgin bitcoins". The Coinbase transaction is also called Generation transaction.

[PrimeNumber7]

So a Coinbase Transaction does not have anything to do with the site coinbase.com? It's just the terminology or I am wrong? I thought it's called virgin bitcoins?

I never heard the term 'virgin bitcoins'.

Some might describe a coinbase output this way because the coin has never been 'used'  this makes blockchain analysis of the out more difficult, less there is an instance of address reuse.

[BitcoinGirl.Club]

The exchange coinbase.com has chosen that name because of the term.

And all those days I was wondering why the hack blockchair.com have a section says, coinbase tx? Yes/No

I used to think why do they specially try to find a link/(whatever) with coinbase.com LOL

[BitMaximum]

• The bitcoins from a Coinbase transaction can be spent only after it has 100 confirmations in the blockchain. This is to safeguard the Coinbase transaction to be unspendable.

This is done to protect the network against spending coins which do not exist due to forks.
It does not protect the coinbase transaction itself in any way.

So a Coinbase Transaction does not have anything to do with the site coinbase.com? It's just the terminology or I am wrong? I thought it's called virgin bitcoins?

I never heard the term 'virgin bitcoins'.

The first transaction of a block indeed is the coinbase transaction and is composed of the block reward and the fees.
The exchange coinbase.com has chosen that name because of the term.

The term 'Virgin Bitcoins' is used very often. This is Bitcoins that have no history of transactions. Virgin Bitcoins actively discussed at Bitcointalk because of tightening of controls of Financial Action Task Force (FATF) against money laundering over the cryptocurrency, obliging crypto exchanges and other service providers with crypto to comply with AML.

[pooya87]

~
The term 'Virgin Bitcoins' is used very often.

not really. i have also never heard the term "virgin bitcoins" be used ever before that one company recently started using it and the news sties started copying the content (with this word in it). so if anything this term is something that was created recently and by one company and nobody even uses it any place else.