Difference between revisions of "Block reward"
Jump to navigation
Jump to search
(Created page with "A type of monetary incentive provided by cryptocurrencies whenever an individual mines a block successfully. Coins/Tokens are not created out of thin air. Still, rather they must have gone through mining first before being awarded as such since it requires computational resources and electricity costs to mine them effectively. This is how miners make their profits, doing the work necessary in ensuring proper security measures are put in place so that these tokens cannot...") |
(No difference)
|
Revision as of 12:35, 26 April 2022
A type of monetary incentive provided by cryptocurrencies whenever an individual mines a block successfully. Coins/Tokens are not created out of thin air. Still, rather they must have gone through mining first before being awarded as such since it requires computational resources and electricity costs to mine them effectively. This is how miners make their profits, doing the work necessary in ensuring proper security measures are put in place so that these tokens cannot easily be hacked or stolen from them.