The number of units of a cryptocurrency that a user gets as the reward for mining a block of that cryptocurrency.

A block reward is simply the number of cryptocurrency units or coins that a miner gets in return for blockchain mining. Essentially, the developers of a cryptocurrency offer these coins from the collection of newly minted crypto units as payment for the computational work required to get these tokens. The block reward is then allocated to users based on the amount of work they have put in.

Blockchain rewards serve as incentives for users to earn ‘free’ tokens which they can then exchange for a variety of uses at a later date. They are also the most popular reasons crypto enthusiasts participate in crypto mining activities.

A digital, dynamic, and distributed accounting ledger used for recording transactions in chronological sequence.

A blockchain is a digital accounting ledger that contains all the transaction information for the exchange of digital currencies and assets. This ledger is said to be distributed because it is a massive and synchronized database with different computers which serve as nodes active on the network. The technology of blockchains (known simply as blockchain technology) serves as the framework of the entire cryptocurrency innovation since the exchange of crypto assets is impossible without this framework.

There are different blockchains with different protocols about how the blocks and nodes interact and the algorithms for different activities and purposes. The most popular blockchain platforms are Ethereum and Bitcoin.

The distance of a block from the genesis block on a blockchain which is represented by a number like #4.

The block height is the distance between an active block on a blockchain and the first block on that blockchain (alternatively known as the genesis block). Generally, this distance is represented by a hash and a number which corresponds to the actual number of blocks in-between the one in question and the genesis block. Thus, as the genesis block is designated as block #0, block height is #7 for a block that is 6 blocks after the genesis block. In other words, immediately after the genesis block is a block with block height #1, then #2, then #3, and so on.

A block height functions as a locational description or reference that indicates the number of verified blocks before a particular block.

Block Reward

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