Content originally published by BitcoinOptech on newsletter #16.
The fifth Scaling Bitcoin conference was held Saturday and Sunday in Tokyo, Japan. In the sections below, we provide brief overviews to some of the talks we think might be most interesting to this newsletter’s readers, but we also recommend watching the complete set of videos provided by the workshop organizers or reading the transcripts provided by Bryan Bishop.
For instance if \(p\) is the peak hash rate for 365 periods or 1 year, made up of 144 blocks, \(h\) the hash rate of the last 144 blocks (1 day period), and \(r\) the base subsidy or reward for mining a block, which is currently 12.5 bitcoin, the maximum block reward can then be calculated using the formula \(0.5r (1 + h/p)\) , the lowest possible block reward being \(0.5r\) . At peak hashrate, the miner gets the full 12.5 BTC reward, otherwise the reward is determined based on the hashrate.