Block Reward
By CoinGecko | Updated on Mar 03, 2020
In the context of Bitcoin, one of the mechanisms built into it's protocol is to have what is known as block rewards to act as incentives for users to secure the network. Bitcoin mining is the activity and block rewards in the form of cryptocurrency (Bitcoin) is what incentivizes miners to secure the network by validating the data of new blocks.
Related Terms
Gas
A unit of measurement of the computational effort in conducting transactions or smart contracts on Ethereum blockchain.
Graphical Processing Unit (GPU)
They are chips dedicated to graphics processing or floating point operations, allowing to lighten the workload of the processors during applications usage such as video games.
Flappening
Flappening is a term used to describe Litecoin growing bigger and becoming more valuable than Bitcoin Cash (BCH). It is spawned from the term Flippening (used when another crypto overtakes Bitcoin).
Hard cap
The maximum amount that an ICO will be raising.
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