What is a block template?
A block template is the draft block a miner hashes: the chosen transactions, the coinbase transaction and the header fields, with only the nonce left to find.
How it works
A node selects the best-paying transactions from its mempool and assembles them. In pooled mining the pool normally builds the template and miners only hash it; with Stratum V2 a miner can build its own.
Why it matters
Whoever builds the template decides which transactions get into Bitcoin's blocks, which is why template construction is central to the debate about mining centralization.
Related terms
All terms: the Bitcoin mining glossary.
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