Block Reward
By CoinGecko | Updated on Mar 03, 2020
In the context of Bitcoin, one of the mechanisms built into it's protocol is to have what is known as block rewards to act as incentives for users to secure the network. Bitcoin mining is the activity and block rewards in the form of cryptocurrency (Bitcoin) is what incentivizes miners to secure the network by validating the data of new blocks.
Related Terms
PFP
It means both 'profile pic' and 'picture for proof'.
Block
In the context of blockchain, block refers to the collection of transactional data or information that are bundled together in a predetermined size.
Crypto Bubble
It is a speculation in the cryptocurrencies and the price of cryptocurrencies would go extremely high before the bubble bursts.
Token
Blockchain based unit of value issued by an organization, which grants token holders a right to participate in a network.
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