Alibaba partnered with Bitcoin rewards shopping app Lolli, enabling its shoppers in the U.S. to earn 5% back in Bitcoin.
A block reward is a certain number of coins which are provided to a block discoverer in return for the energy that was spent on the mining process. The Bitcoin mining reward is an additional bounty for miners, which is usually combined with fees paid by users when making transactions. The current Bitcoin block reward is 12.5 bitcoins. As currency emission is controlled by the algorithm, this value halves every 210,000 blocks. The Bitcoin reward per block is a great tool to encourage the maintenance of the network and to control the growth of it. In the future, when the block reward will be smaller, miners will earn most of their profit through transaction fees. In proof-of-work-based cryptocurrencies, the block reward is usually stable and predicted by their algorithm. In proof-of-stake cryptos, the reward is dependent on the amount of a miner’s resources and, sometimes, the age of their stake.