Block reward

A block reward is a fixed amount of cryptocurrency that is given to miners for successfully adding a new block to a blockchain. Block rewards were introduced in order to incentivize miners to validate transactions and add blocks to the blockchain. In the case of Bitcoin, for example, the block reward started out as 50 BTC per block and is halved every 210,000 blocks, or roughly every four years. The current block reward for Bitcoin is 6.25 BTC. Block rewards serve a few purposes, including providing an incentive for miners to work on the network, ensuring the security and integrity of the blockchain, and controlling the issuance and inflation of the cryptocurrency. As the number of blocks in a blockchain increases, the amount of cryptocurrency produced by the network decreases, which helps to control the amount of new coins entering circulation over time.