First bitcoin block reward
The block reward for the miner who was lucky enough to find it would be very large, a lot more than the miner will see as a return from the pool in the short term. What stops the miner taking that reward and leaving as if they were in their own pool?
Well the blocks are pre-built by the pool. Everything except the nonce the value in the block that miners change to get a hash with a certain amount of preceding zeros must stay the same.
One would assume that the pool can then just verify the nonce, and rewards wouldn't be awarded if the user changes the address as the hash won't pass when being verified by the pool - incentivising miners to follow the pool's rules although we are yet to find documentation on this.
This part is nice and simple. Whichever pool guesses a Block's hash first wins the Block reward. The more hashing power a pool has, the higher the probability that the pool will succeed. Extend this over a long period of time, then the reward split between pools should be similar to the share each pool has of total hashpower. Slushpool for example, which currently has This site cannot substitute for professional investment or financial advice, or independent factual verification.
This guide is provided for general informational purposes only. The group of individuals writing these guides are cryptocurrency enthusiasts and investors, not financial advisors. Trading or mining any form of cryptocurrency is very high risk, so never invest money you can't afford to lose - you should be prepared to sustain a total loss of all invested money.
This website is monetised through affiliate links. Where used, we will disclose this and make no attempt to hide it. We don't endorse any affiliate services we use - and will not be liable for any damage, expense or other loss you may suffer from using any of these. Don't rush into anything, do your own research.
As we write new content, we will update this disclaimer to encompass it. We first discovered Bitcoin in late , and wanted to get everyone around us involved. But no one seemed to know what it was! We made this website to try and fix this, to get everyone up-to-speed!
Click Here for more information on these. All information on this website is for general informational purposes only, it is not intended to provide legal or financial advice. Jan 25th, Updated Jan 27th, Mining Many people new to Bitcoin in are just buying and holding it, but quite a few are getting involved with Bitcoin mining. What are Block Rewards? What are Transaction Fee Rewards?
How do pools distribute rewards? How does Slushpool distribute rewards? How are Rewards Split Between Pools? May 14th, What is the Antminer B3? Written by the Anything Crypto team We first discovered Bitcoin in late , and wanted to get everyone around us involved.
Never invest money you can't afford to lose. The split is counted by the amount of work they have proved vs the total work proven by all the miners in the pool. Lets step back a moment though, now that we know how much work everyone's done - how is the reward distributed? The block reward for the miner who was lucky enough to find it would be very large, a lot more than the miner will see as a return from the pool in the short term.
What stops the miner taking that reward and leaving as if they were in their own pool? Well the blocks are pre-built by the pool. Everything except the nonce the value in the block that miners change to get a hash with a certain amount of preceding zeros must stay the same. One would assume that the pool can then just verify the nonce, and rewards wouldn't be awarded if the user changes the address as the hash won't pass when being verified by the pool - incentivising miners to follow the pool's rules although we are yet to find documentation on this.
This part is nice and simple. Whichever pool guesses a Block's hash first wins the Block reward. The more hashing power a pool has, the higher the probability that the pool will succeed. Extend this over a long period of time, then the reward split between pools should be similar to the share each pool has of total hashpower. Slushpool for example, which currently has This site cannot substitute for professional investment or financial advice, or independent factual verification.
This guide is provided for general informational purposes only. The group of individuals writing these guides are cryptocurrency enthusiasts and investors, not financial advisors. Trading or mining any form of cryptocurrency is very high risk, so never invest money you can't afford to lose - you should be prepared to sustain a total loss of all invested money.
This website is monetised through affiliate links. Where used, we will disclose this and make no attempt to hide it. We don't endorse any affiliate services we use - and will not be liable for any damage, expense or other loss you may suffer from using any of these. Don't rush into anything, do your own research. As we write new content, we will update this disclaimer to encompass it.
We first discovered Bitcoin in late , and wanted to get everyone around us involved. But no one seemed to know what it was! We made this website to try and fix this, to get everyone up-to-speed!
Click here for more information on these. All information on this website is for general informational purposes only, it is not intended to provide legal or financial advice. Jan 25th, Updated Jan 27th, Mining Many people new to Bitcoin in are just buying and holding it, but quite a few are getting involved with Bitcoin mining. What are Block Rewards? What are Transaction Fee Rewards?
How do pools distribute rewards? How does Slushpool distribute rewards? How are Rewards Split Between Pools? May 5th, What is the Antminer Z9 Mini?