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
Gwei
The monetary domination of gas, involving Ether
Externally Owned Accounts (EOA)
Externally owned accounts (EOAs) are accounts that are controlled by a private key and have no coding associated with them.
Ring Signature
A type of digital signature performed in a group where it becomes impossible to determine which member's key in the group were used for the digital signature.
Gas
A unit of measurement of the computational effort in conducting transactions or smart contracts on Ethereum blockchain.
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