A blockA block is a specific type of construct in a blockchain that stores transactional information blocks typically contain transaction information... Read More producer is an entity that creates new blocks on a blockchainAs a distributed ledger technology (DLT), a blockchain is a digital ledger that can create an immutable record of transactions.... Read More through mechanisms such as consensusConsensus allows a distributed system such as a blockchain to function as a decentralized peer-to-peer system without the need to... Read More algorithms or voting systems. Block producers are responsible for validating and committing blocks to the blockchain. Block producers may receive a rewardA reward is an incentive given to a miner who successfully hashes a transaction block. The reward for completing a... Read More in the form of cryptocurrencyCryptocurrency is decentralized digital currency secured by cryptography. Cryptocurrency utilizes cryptographic protocols to record ownership and prevent counterfeits (when ownership... Read More for their contributions to the network. A block producer is not always a block creatorA block creator is an individual or group that creates blocks in a blockchain network. Block creators typically receive rewards... Read More. In some instances, transactions are mined without involving a block producer.
