Published: 9 August 2022, 2:36 am Updated: 09 Aug 2022, 2:36 am
What is Block Reward?
The cryptocurrency awarded to a miner when they successfully validate a new block is referred to as a block reward.
Understanding Block Reward
The block reward is composed of two parts: the block subsidy and transaction fees. The block subsidy is made up of newly created coins and constitutes the majority of a block reward. The remaining portion is made up of the fees paid by the transactions included in the block. Because the block reward is almost entirely composed of the block subsidy, it is highly frequent to hear individuals discussing the block subsidy while referring to the block reward. As a result, in popular parlance, the term “block reward” does not account for the costs.
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Damir Yalalov
Damir is the Editor/SEO/Product Lead at mpost.io. He is most interested in SecureTech, Blockchain, and FinTech startups. Damir earned a bachelor's degree in physics.
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