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
Unspent Transaction Output
(abbv. "UTXO") Coins that are unspent in the wallet. UTXO virtually represents the cryptocurrency one own in the wallet.
Sell wall
Anomalously large sell order(s) at a single price point that reflects as a "wall" in the order book.
Mnemonics
Mnemonics are memory aids with a system such as letters or associations that help in recall. *see Mnemonic Phrase.
Application-Specific Integrated Circuit (ASIC)
Refers to specialized computers that are made to do a very specific task (eg. calculate hashes for Bitcoin's Proof-of-Work)
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