Block reward
In proof-of-work blockchains, miners earn block rewards for verifying transactions and creating blocks. On Bitcoin, rewards halve every 210,000 blocks, making mining less profitable over time.
In proof-of-work blockchains, miners earn block rewards for verifying transactions and creating blocks. On Bitcoin, rewards halve every 210,000 blocks, making mining less profitable over time.
Cryptocurrency miners receive an amount in cryptocurrency (called a block reward) as an incentive to verify transactions and validate blocks.
In proof-of-work consensus, cryptocurrency mining consists of two steps: verifying transactions and solving complex math functions to create blocks. The first miner who is able to solve this function will get a block reward.
On the Bitcoin blockchain, mining is less and less profitable. The initial block reward was 50 BTC. However, the reward decreases by 50% every 210,000 blocks (which is called halving) and will reach 0 in 64 halvings.
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