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Whenever someone makes a transaction it gets verified by the miners & after that it becomes the part of the ledger. So as a reward miners get a small amount of bitcoin. Now my doubt is the reward that a miner is getting for successful validation, it should also be added to ledger and needs to be verified by someone say 'new miner'. The new miner's reward should also be verified by someone else. And this process of verifying rewards will continue forever.

Is my understanding right or am I missing something?

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The miner's reward is verified by every node (you referred to "someone else"). It gets rejected if invalid conditions are contained. The keyword here is "coinbase transaction", and it needs to follow the rules mentioned in the book. This coinbase tx goes into the ledger, if it follows the rules.

Source

  • Thanks for the link. Precisely it has been answered in the book. Each miner includes a special transaction in his block, one that pays his own bitcoin address a reward of newly created bitcoins – Pratik Kumar Aug 19 '17 at 18:24

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