Block Reward Definition | IoT ONE Digital Transformation Advisors

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	Block Reward

Block Reward

Formal	An incentive to block miners for securing the network by providing hash power to it. The miner who calculated the correct hash of the next block gets coins for verifying the transactions in that block. New coins are minted every time a new block is added to the chain. Read More
Practical	The miner who calculated the correct hash of the next block gets coins for verifying the transactions in that block. New coins are minted every time a new block is added to the chain.In Bitcoin, the block reward halves every 4 years, making it a deflationary cryptocurrency. Read More
Contents

Formal

An incentive to block miners for securing the network by providing hash power to it. The miner who calculated the correct hash of the next block gets coins for verifying the transactions in that block. New coins are minted every time a new block is added to the chain.

Practical

The miner who calculated the correct hash of the next block gets coins for verifying the transactions in that block. New coins are minted every time a new block is added to the chain.In Bitcoin, the block reward halves every 4 years, making it a deflationary cryptocurrency.

Overview

Block Reward