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If a block:

  • Is after the last halving, so there is no subsidy
  • Includes no non-coinbase transactions, so there are no fees

Must it include a coinbase transaction? If so, will it simply have no outputs?

1 Answer 1

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Every Bitcoin block is required to have a coinbase transaction, regardless of fees or subsidy.

Additionally, every transaction (including the coinbase), must have at least one output (possibly 0-valued), and at least one input (in the case of a coinbase, this isn't actually spending any actual UTXO, though).

In a block with 0 fees and 0 subsidy, this implies a coinbase transaction with only 0-value outputs.

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