The block reward is the incentive given to miners for successfully mining a new block and adding it to the blockchain. This reward typically consists of newly minted coins as well as transaction fees collected from the transactions within the block.
The block reward mechanism is essential for encouraging miners to secure the network and process transactions in proof-of-work systems.
Over time, many cryptocurrencies have designed their protocols to reduce the block reward gradually, impacting the rate at which new coins are introduced.
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