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What is Block Reward (Block Reward Recharge)?

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What is Block Reward? Block reward is an important feature in a blockchain netwo

What is Block Reward (Block Reward Recharge)?

What is Block Reward? Block reward is an important feature in a blockchain network. It increases trust among certain participants on the network by providing secure transactions and records, allowing everyone to have access to the necessary services (including computing power, storage, or other resources).

With the development of the network, miners can obtain rewards from their nodes as needed. In a sense, this is an incentive mechanism to encourage new users to join the network and promote its growth. However, unlike Bitcoin, block rewards are not issued by mining pools, but rather decided by the community. Therefore, users do not receive any token rewards. To maintain these values, all block rewards belong to the owners of the respective blocks, as they represent the “protocol”. Whenever a new block is created, developers contribute some costs to the network (such as the time required to run validation programs) without paying additional fees, so only those who receive block rewards can continue to earn more funds for the network. (AMBCrypto)

Block Reward Recharge

According to official news, block reward (blockcap) recharge has been launched. Currently, over one million blocks have completed block reward recharge, with an average bidding rate of once every 10 minutes and a block time of approximately 6 seconds.

Based on CoinMarketCap data, the current total block reward has reached 50,000,000 BTC, equivalent to approximately 240 million US dollars. It is reported that mining pools, wallets, and exchanges have made significant investments in block reward recharge.

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