Certified Bitcoin Professional Practice Exam

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What happens to the number of bitcoins in existence every 10 minutes?

  1. The number decreases due to transactions

  2. A new block adds 6.25 bitcoins

  3. Mining stops completely

  4. Wallets are reset

The correct answer is: A new block adds 6.25 bitcoins

The number of bitcoins in existence increases every 10 minutes due to the process of block generation in the Bitcoin network. Every time a miner successfully adds a new block to the blockchain, they receive a block reward, which, as of the latest halving event, is 6.25 bitcoins. This mechanism is an integral part of Bitcoin's monetary policy, designed to control the supply of new bitcoins entering circulation. The issuance of new bitcoins through mining is foundational to the network's operation, as it incentivizes miners to validate and secure transactions. Each new block contributes to the total supply, incrementally increasing the number of bitcoins in existence approximately every 10 minutes, thus ensuring a consistent, reliable increase in the bitcoin supply until the maximum cap of 21 million bitcoins is reached.

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