I am working on Bitcoin and trying to understand how transaction fee is calculated. Bitcoin support site states that the reason for selection of small and large transaction by miner:
Again due to the fact that a block on the bitcoin blockchain can contain no more than 1 MB of information, transaction size is an important consideration for miners. Smaller transactions are easier to validate; larger transactions take more work, and take up more space in the block. For this reason, miners prefer to include smaller transactions. A larger transaction will require a larger fee to be included in the next block.
I have below questions on it:
- Does the size difference matter only in case of validation or even while mining or PoW.
- What is the mathematical reasoning for difference.