Ethereum block reward: A closer look at its source and emit
Being one of the largest and most popular cryptocurrency, Ethereum was fascinating investor and researchers with his complex mechanics. An aspect that has aroused curiosity is the mechanism of rewarding the block, especially if it comes from a bitcoin treasure or if there is another more complex process in the game.
Block reward mechanism
In Ethereum, each block of 2016 (about two weeks), the miner who added the most precious content to the blockchain is rewarded with a certain number of new ethereal chips (ETH) and sometimes other cryptocurrencies, such as Dash, Litecoin or Bitcoin Cash . This reward is known as the block reward.
is a bitcoin treasure?
So, the reward of the Ethereum block comes from a bitcoin treasure? The answer is no. Instead, it is issued by a mechanism called “Ethereum Gas”, which is essentially a currency unit that represents the necessary calculation effort to validate the network transactions.
In other words, the miners do not receive their reward in Bitcoin (BTC), but rather in Ether (ETH). This is due to the fact that Ethereum is built above the proof consent algorithm (POW), in which the miners compete to solve complex mathematical puzzles in exchange for adding new blocks to blockchain transactions.
Transaction Coinbase
In order to receive his reward, a miner must first deposit him in their “coincibase” account. This is done through a process called “Coinbase transaction”, which is essentially a payment from the Ethhereum network to the Miner’s portfolio. 12.5 ETH received by each miner is added as a deposit in his account coinbase.
How do the miners get their reward?
Here’s what’s going on later:
- Once a block once extracted, the miner adds to the blockchain.
- The miner then deposits the reward of the relevant block in his account coinbase.
- The transaction is transmitted to the Ethereum network for verification.
- If verified, the transaction is confirmed and added to the blockchain.
Conclusion
In conclusion, while the reward of the Ethereum block comes from an ether group (ETH) extracted by its consent of the captivity imprisonment, does not come directly from a bitcoin treasure. Instead, the miners receive their prizes in ETH through coinbase transactions. The process may seem complex, but it offers a safe and transparent way of distributing the reward of the block between all the participants in the Ethereum network.
additional facts
- It is worth noting that the Ethereum team has stated that it intends to increase the block reward to 14,000 ETH per block, which could lead to more markers in competition for prizes.
- The price of Ethereum gases is calculated based on the total calculation effort necessary to solve the enigmas and validate transactions. As the network increases in size and complexity, the price of Ethereum gases can float accordingly.
This article aims to provide a complete understanding of how the Ethereum block reward mechanism works, including its source and emission process. Although it may seem complex at first glance, this complex system is essential to grab the basic mechanics of the Ethereum network.