Incentivization by design is an approach to designing systems, programs, or policies that incorporates incentives into the structure of the system to encourage desired behaviors. With Bitcointesting out a lowercase version of this. Read More, for example, miners are incentivized to validate transactions and add them to the blockchainA Blockchain is a distributed database that is shared among the nodes of a computer network. As a database, a... Read More. This incentive is a reward (in BitcoinBitcoin is a cryptocurrency. It is a decentralized digital currency that is based on cryptography. As such, it can operate without the... Read More) for each block mined. The rewardA reward is an incentive given to a miner who successfully hashes a transaction block. The reward for completing a... Read More halves every 210,000 blocksGroups of data within a blockchain. On cryptocurrency blockchains, blocks are made up of transaction records as users buy or sell... Read More, or roughly every four years, creating a strong incentive for miners to continue participation in the system as the rewards decrease over time.
