BTC mining details
https://ift.tt/3ftOIkP
Came across this article today:
https://ift.tt/33m8qwBcrypto-miners-defy-odds-win-bitcoin-jackpot
It highlights something I’ve never understood about the mining process: we’re usually told a simplified version of how mining works and that all the miners “compete” to solve the algorithm to have the privilege of adding a new block to chain and earning (currently) 6.25 BTC reward.
But I was always curious how all the rest of the miners got anything if the full reward goes to a single entity every time. How would a small to medium miner “mine” .01 BTC over several weeks then? Is the hash rate actually pooled and distributed widely among all miners, or…? Thanks for weighing in, this is something that I’ve never fully understood.
Cryptocurrency
