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
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.
Decentralized Autonomous Organization (DAO)
Open source and decentralized systems that do not require centralized operators or controllers.
Byzantine Generals’ Problem
A term used to describe the situation a single strategy which requires consensus from all members within a group who cannot be trusted or verified
Mining
It is the process of the miners verify and adding transaction recors into a block.
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