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Thomas Zarebczan 2017-10-31 14:26:52 -04:00 • committed by GitHub
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content/faq/block-rewards.md
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@ -1,15 +1,21 @@
---
title: What are the LBRY Block Rewards?
title: What is mining and what are the LBRY Block Rewards?
category: mining
order: 1
---
## 0. Only Trust the Source
## What is Mining?
Mining is a process where computing power is used to verify transactions on LBRY network and add them to the public ledger (LBRY blockchain). It is also a process of how additional new LBRY credits (LBC) are created as a reward for the successful miners (see details below). The process uses the mining software to calculate complex mathematical puzzles in order to secure the transactions.
Both CPU and GPU hardware can be used for mining, but the current market is dominated by GPU mining. LBRY uses a mix of SHA512, SHA256 and RIPEMD hash functions in its algorithm. To put it in the most simple terms: mining enables secure and fast LBC transactions.
## Only Trust the Source
The source code, and not this file, is the only true definition of the block rewards. That source file is located here in [`master`]:
[https://github.com/lbryio/lbrycrd/blob/master/src/main.cpp](https://github.com/lbryio/lbrycrd/blob/master/src/main.cpp#L1576)
## 1. Reward Schedule
## Mining Reward Schedule
Eventually 1,000,000,000 LBRY credits will exist. They are awarded on the following schedule:
@ -27,3 +33,5 @@ Eventually 1,000,000,000 LBRY credits will exist. They are awarded on the follow
years.
* Block rewards ramp up slowly because we want to ensure that users are given some time to get LBRY up and running, and to avoid unfairly benefitting the earliest users.
* To see the current block reward, visit the [LBRY Blockchain Explorer](https://explorer.lbry.io) and explore the latest block details.