Coinbase Transaction
The coinbase transaction is each block's first entry: it creates new coins from nothing and pays them (plus fees) to the winning miner. Not to be confused
The coinbase transaction is each block’s first entry: it creates new coins from nothing and pays them (plus fees) to the winning miner. Not to be confused with the Coinbase company — this one predates it and is how every Bitcoin in existence entered circulation.
Why it matters
Coinbase transactions are the only “minting” in Bitcoin — the complete, auditable record of all 21M coins’ birth certificates. Analysts trace them to study miner behavior, selling pressure, and the slow migration of supply from miners to holders over each epoch.