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
Satoshi
A unit measure for the smallest divisible unit of a bitcoin. 1 bitcoin is equal to 100 Million Satoshi.
IYKYK
Abbreviation for: if you know you know. The phrase implies that the user has dropped some sort of insider knowledge about a specific experience. Often, the post will have some callback to a particular experience that will instantly stand out to those who are “in the know,” or ironically sharing commonly known information.
Ticker
A ticker is a stock or asset symbol that abbreviates the asset name and it can be used as an identifier of the asset.
Genesis Block
It is the first block of data that is processed and validated to form a new blockchain, typically called as 'block 0' or 'block 1'.
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