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
Hot Wallet
It is a tool that store your cryptocurrencies and always connected to internet
Miners
Contributors to a blockchain taking part in the process of mining.
Full Node
Full Nodes are computers that verify the set of rules that are built into the protocols of a given cryptocurrency.
Cryptocurrency Act of 2020
The Cryptocurrency Act of 2020 is a bill which aims to clarify which federal agencies would regulate which type of crypto assets.
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