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Definition · How it works

What is Block?

A batch of transactions accepted into the ledger together, produced roughly every ten minutes and limited to about four million weight units.

Each block carries a header (version, previous block hash, a commitment to its transactions, a timestamp, the difficulty target and a nonce) and the transactions themselves. Miners assemble candidates and search for a header hash below the target.

Block space is deliberately scarce. That scarcity is what creates a fee market: users bid for inclusion, and the bidding is what will eventually replace the block subsidy as miner revenue.

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This definition is part of the Bitcoin Logical glossary. For the fuller explanation, start with Learn, or see the live numbers on The Bitcoin Signal.