What is the primary purpose of a “block reward” in Proof of Work blockchains? Answer

Imagine a world where navigating the complexities of Web3 is as easy as riding a wave. That’s the vision behind Marina Protocol, a global Web3 tutorial platform designed to empower users, both new and experienced, to dive into the exciting world of decentralized technologies.

Web3, the next iteration of the internet, promises a more decentralized, user-owned, and transparent online experience. However, for many, the entry point to Web3 can be daunting. Understanding complex concepts like blockchain technology, cryptocurrencies, and decentralized applications (dApps) can feel overwhelming, hindering widespread adoption.

Marina Protocol is a user-friendly platform that bridges the gap between traditional Web2 users and the innovative world of Web3.

READ MORE:  What is the term for a situation where a cryptocurrency undergoes a significant and often sudden decrease in value? Answer

In this article, you’ll learn the correct answer to “What is the primary purpose of a “block reward” in Proof of Work blockchains?” in Marina protocol.

What is the primary purpose of a “block reward” in Proof of Work blockchains? Answer

Correct Answer: To incentivize miners for securing the network and validating transactions.

Related posts:

  1. What is the purpose of a “Zero-Knowledge Proof” in blockchain cryptography? Answer
  2. What is the purpose of a “masternode” in certain blockchain networks? Answer
  3. What is the name of the method where a sequencer processes Layer 2 transactions using zero-knowledge proofs to generate and verify proof? Answer
  4. What is the purpose of a “DAO” (Decentralized Autonomous Organization) in the context of blockchain? Answer
  5. Heardle Answer June 8th: Hints And Today’s June 8 Answer
READ MORE:  INEC Result Portal 2023: How To Check Nigeria’s Election Results – www.inecelectionresults.ng
Blockchain