Block Reward
Home » Bitcoin Culture » BTC Glossary » Block Reward
When a new block is successfully added to the blockchain, miners will receive Bitcoin for the work done – this is known as a block reward.
Bitcoin miners are specialised nodes that process already verified batches, or blocks, of transactions on to the blockchain where they remain forever.
Due to Bitcoin’s protocol, these miners complete complex equations known as hashes which requires a lot of energy to do, hence the name “proof-of-work”.
As a result of this work, miners receive compensation in the form of block rewards for their trouble.
With the Bitcoin halving happening every 210,000 blocks, there’s a race for miners to solve hashes and accumulate Bitcoin before the block rewards get cut in half.
Share with a friend
If you thought this information was helpful why not share it on your favourite social media network and encourage others to learn more about Bitcoin
Latest Articles
The Social Engineering Hacks Will Continue Until Self Custody Improves
When you decide to store your wealth in Bitcoin, security is paramount. The blockchain spares no expense in securing blocks for a reason, and you
The Issue With Stablecoins On Lightning
The Bitcoin Lightning Network (LN) has emerged as the most promising solution to Bitcoin’s scalability issues. It’s the only layer two offering unilateral exit and multiple implementations
Lessons From The WBTC Address Poisoning Attack
In May 2024, the altcoin world threw up another epic loss for the ages when a whopping 1,155 WBTC (Wrapped Bitcoin), valued at over $70