What is a Block Reward?

A block reward is a reward given to a miner, staker, or validator for successful mining, minting, or validating a block on a blockchain network. This reward is usually a fixed amount of the native cryptocurrency of the blockchain. The block reward is an incentive to participate in the network and secure it by verifying transactions. Let's take Bitcoin's example: Miners compete with each other to solve complex mathematical problems. The first miner to solve the problem gets to add…