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
Mining Reward
The reward resulting from contributing computing resources to process transactions
Satoshi
A unit measure for the smallest divisible unit of a bitcoin. 1 bitcoin is equal to 100 Million Satoshi.
Utility Token
cryptocurrency tokens with specific utilities on a network besides being used as medium of exchange and investment vehicle.
Bearish
A term used to indicate negative sentiment towards the market or an asset, where investors believe that there will be downward price movement.
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