Satoshi Nakamoto mined the genesis block on Jan. 3, 2009, minting the first 50 Bitcoin
BTC $29,937 in history and kicking off what would become a billion-dollar industry centered around mining crypto. However, with a cap on Bitcoin supply, the fate of miners after the last coins are issued is unclear.
Bitcoin is created through mining, a process involving computer hardware to solve complex mathematical problems and verify transactions on the blockchain network. For their efforts, miners are rewarded with a predetermined amount of BTC for each block of transactions.
According to the Blockchain Council, more than 19 million BTC has been awarded to miners in block rewards, and according to Nakamoto’s white paper, only 21 million are available. Once this cap is reached, miners will no longer receive rewards for verifying transactions...
To read more visit CoinTelegraph.
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