In any of these cases the operation is basically the same.įirst, the service software to be used is installed, for example, bitcoind. Other fairly common softwares are BFG Miner, p2pool, ecoinpool o stratum. The most common cooperative mining server software is Bitcoin's own official service, the bitcoind. But there are good reasons for this: keep pace with block production and allow profits for the little ones. It may sound ironic that a decentralized technology like blockchain relies on a centralized service. In order to allow multiple miners to pool their computing power at one point, it is necessary to have a server to serve as a link. This new function allows to overcome the weaknesses of the old systems allowing a better scalability and security. However, Getwork had some weaknesses that were later overcome thanks to the function getblocktemplate. Back then Bitcoin was growing rapidly, from mining for CPU it happened at GPUs, while FPGA's and ASICs they were looming at the doors. In this way, the block would be mined more quickly and network delays are avoided due to the increase in difficulty that was coming. Each miner working on unique solutions until one of them could solve it satisfactorily. What Getwork was actually doing was communicating to a group of miners so that together they mined the same block. Therefore it serves to optimize the global mining process. In this way, mining power is concentrated on a specific objective instead of individual ones. This allowed a dispersed mining group to have a target block to mine cooperatively. This functionality was known at the time as get work. First of all, the responsible for this is a function that is built into the base Bitcoin client. The operation of the mining pools would not be possible if the protocol Bitcoin not allow this function. The operation of the mining pools depends on three clear actors, responsible for cooperativity between all the mining units that are members of said pool. The result of this interesting insight was surprising in allowing these miners to make better group profits than solo. This in order to face the growing practice of GPU mining that was born in Bitcoin. The intention of its creator was to unite the forces of the underpowered miners. SlushPool was implemented in Europe, specifically in Poland, the country of origin of Slush itself. This user is currently CEO and co-founder of Safe deposit. It was presented in the forum Bitcointalk on Novemby the user Slush. The first mining pool that was created is called SlushPool. A job that individually would be very difficult for each miner to complete. The creation of these groupings responds to the need to be able to satisfactorily solve the puzzles of a blockchain as the power of your network increases and the mining difficulty. and obtain equitable benefits for everyone within the group. The purpose of this grouping is to facilitate the work of mining is. Las mining pools they are a group of miners who cooperate with the objective of mining blocks of a blockchain. Tokenization Fundamentals Course - Certificate.Cryptocurrency Taxation and Taxation Course.
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