Cryptocurrency means block reward when you successfully validate a new block rewarded with a miner. The block award consists of two components: the block subsidy and transaction fees. The block subsidy consists of newly generated money and represents the largest portion of a block award. The other part consists of all fees paid by transactions included in the block.
Because the block award is made almost entirely from the block subsidy, it is very common to see people talking about the block subsidy when referring to it as the block award. So in popular terminology, the term “Block award ” does not account for fees.
In the case of Bitcoin, the block subsidy started at 50 BTC and is reduced by half of every 210,000 blocks (about every four years). One such process is known as bitcoin halving. Bitcoin’s block subsidy was reduced to 25 BTC in 2012 and 12.5 BTC in 2016. The next halving is expected to take place in 2024.
Newly created coins are created by a special type of transaction called the coinbase transaction. Typically, the Coinbase process is the first operation to be added in a block and basically generates money from nothing, as the coins come from a single empty entry.
