Block Reward
- Formal
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An incentive to block miners for securing the network by providing hash power to it. The miner who calculated the correct hash of the next block gets coins for verifying the transactions in that block. New coins are minted every time a new block is added to the chain.
- Practical
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The miner who calculated the correct hash of the next block gets coins for verifying the transactions in that block. New coins are minted every time a new block is added to the chain.In Bitcoin, the block reward halves every 4 years, making it a deflationary cryptocurrency.
