As the name suggests, a block reward is the compensation that’s given to the miner who successfully manages to process a block of transactions, adding it to the blockchain.

The reward for validating a block is the number one reason that miners 'mine' in the first place. By using computer power to create hashes, miners try to solve a mathematical puzzle and be the first to validate a block of cryptocurrency transactions. You can read more about mining and how it works here.

Validating a block on its own does not necessarily mean you get the reward though. This is why when you purchase an EasyMining ticket you will also see the progress bar change color (yellow) and a percentage marker.

The percentage shows how close your package (your hashpower order) is to catching a block. If it's over 100% then you have validated a block. But, you also have to be the first to validate it to get the reward.  You can read more about our EasyMining packages in our help section.

Want to mine a reward for yourself? Then try our EasyMining!

GET AN EASYMINING PACKAGE HERE

Each blockchain has its own reward system

Block rewards are different depending on the blockchain. Not only do they incentivize miners to participate and secure the network, they are also the monetary policy of the blockchain, since the rewards effectively 'issue' new currency into the markets. Because an influx of too many coins into the market would cause devaluation or inflation, many blockchains implement a so called 'halving' event, where the amount of currency is divided by 2 at a given time period. Although the rewards are sometimes halved on certain blockchains, this often pushes the fiat value of the coin up (since less coins in circulation means less supply vs demand).

Bitcoin

For example, when the Bitcoin blockchain first launched, mining rewards were set at 50 BTC. This has subsequently halved every four years: in 2012, 2016, 2020 and 2024. Currently the Block Reward for Bitcoin is 3.125 BTC (about $300,000 as of November 2024). The next 'halving' will be in 2028. The Block Reward also includes any transaction fees, so it is possible (but not common) to get an even higher reward.

Litecoin

With Litecoin, the Block Reward is currently 12.5 LTC (about $700 at time of press), and it also halves every 4 years with the next halving due in 2023.

Dogecoin

Dogecoin on the otherhand has a block reward of 10,000 DOGE (worth about $650 at time of press), and no longer has halving events. This means the block reward will remain the same as long as Dogecoin is mined.

In addition, if you catch a block, you will get a 90% discount on our Mechandise store! The perfect way to celebrate!