2

Users who confirm or validate others' transactions are performing a public service on the Bitcoin network.

Is there any way to reward such users, perhaps by giving them priority for confirmation of their own transactions?

  • The ones that confirm the transactions do get a reward of 25BTC per block – John L. Jegutanis Apr 21 '14 at 22:12
  • @GiannisDzegoutanis: 25BTC per block. How much would that work out to in US dollars (or Euros)? – Tom Au Apr 22 '14 at 18:56
  • 25 BTC * the current exchange rate (which BTW fluctuates minute to minute) – Mark S. Apr 22 '14 at 19:05
  • @Mark S.: 25*$493= $12,325. Is that right, or did I invert (e.g. reverse the order of the numerator and denominator). – Tom Au Apr 22 '14 at 19:09
  • 1
    multiplication is transitive (meaning order does not matter) so yes that's correct based upon the price you stated) – Mark S. Apr 22 '14 at 19:23
4

This is the purpose of transaction fees. By mining a block, all transactions hashed in the block are confirmed, and the corresponding transaction fees go to the block discoverer (along with the block reward). Right now the block reward dwarfs the transaction fee reward... but there is no downside to including other transactions while mining, so all of the nodes will do it.

  • Addresses are not confirmed. Individual transactions are. Addresses do not exist from the point of view of the protocol. – Pieter Wuille Apr 22 '14 at 5:55
  • Yes, that was a typo, I meant transactions. Edited. – hedgedandlevered Apr 22 '14 at 18:08

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