Bitcoin block 800,000 mined — What’s next?
The Bitcoin network has mined block 800,000, with just 40,000 left to mine before the network’s next mining reward halving.
The 800,000th block contained 3721 transactions at 1.64 megabytes, with the price of Bitcoin (BTC) trading at $29,815 on July 24, as market researcher Dylan LeClair noted on Twitter:
#Bitcoin block 800,000. pic.twitter.com/Yw9c6klqbY
The milestone was widely shared across the social media platform on July 24, with Bitcoin proponents and industry commentators highlighting the milestone as an indicator of network security and resilience:
The #Bitcoin network just produced block number 800,000.800,000 blocks without a central bank. 800,000 blocks without a government.800,000 blocks without a CEO.800,000 blocks without asking for permission. pic.twitter.com/hf8RpC3jlP
Bitcoin’s block height refers to the location on the blockchain relative to how many blocks preceded it — back to the genesis block, which was the founding block of the network. Blocks contain transactions and data bundled into blocks by network miners.
₿: 800,000th bitcoin block mined! pic.twitter.com/uGKi15zRaO
The metric acts as a chronological order of transactions and blocks of the network, with each new block connected to the previous one in the chain. This allows users to identify the order in which transactions are recorded.
Block height also serves as a measure of the Bitcoin blockchain’s immutability. The more blocks added to the chain, the more computing power is required for a malicious actor to attempt to tamper with previous blocks.
Related: Bitcoin miners still bullish despite toughest bear market yet — Hut8, Foundry, Braiins
As previously explained by Cointelegraph, a 50% attack would require an attacker to gain enough computing
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