Glossary - ChicksX

Block Reward is the cryptocurrency incentive miners receive for validating transactions and adding a new block to the blockchain.

Block Reward is the compensation given to miners for successfully solving a cryptographic puzzle and adding a new block to the blockchain. This reward consists of newly minted cryptocurrency and, in some cases, transaction fees from the transactions included in the block. It serves as an incentive for miners to continue validating and securing the network. Over time, the block reward typically decreases through a process known as halving, which occurs at predetermined intervals. This ensures the controlled release of new coins into circulation, maintaining scarcity and potentially increasing the cryptocurrency's value over time.