Bitcoin's mining is far from its modest beginnings. What could formerly be done occasionally on a personal computer has become a highly competitive industry, based on specialized machines and massive energy consumption. In this space dominated by large companies, an independent minor has just achieved an exceptional feat.
In short
- An independent minor resolves the Bitcoin Block number 910 440, winning about $ 365,000.
- It is only the 305ᵉ solo block never validated on the solo CK pool.
- The minor operated at around 9 peta-shashes per second, with a daily chance of 1 in 800 to win.
A rare solo victory on the Bitcoin network
An individual using the solo CK pool, a platform for independent minors, managed to treat the Bitcoin network number 910 440. This performance brought him about $ 365,000 in cryptocurrency. The award was divided between the standard block premium, 3.125 BTC, and an additional 0.012 BTC from the transaction costs.
This block brought together 4,913 transactions, generating approximately $ 1,455 of costs. Added to the standard award, the total perceived by the minor was therefore 3,137 BTC.
Beyond the amount, it is above all the scarcity of this fulfillment that attracts attention. Con Kolivas, administrator of CKPOOL, said that it was only the 305th solo block resolved since the creation of the service. According to him, the minor had a power of approximately 9 petahashs per second, an in 800 chance to resolve a block during a day.
These statistics illustrate the gap between independent minors and immense industrial firm, which concentrate most of the Bitcoin calculation power. For this reason, such successes are considered to be extremely rare events in the sector.
The appeal and risk of solo mining
Independent mining has advantages, but also important risks. The main attraction is obvious: when a block is resolved, the minor retains the entire award, without sharing or pool costs. The reverse is the extremely low probability of finding a block, especially as the network difficulty increases.
Cryptocurrency data is currently The difficulty of the Bitcoin network around 129 Billionsa constant level under the effect of increasing competition and the enormous computing power committed.
Despite the low probabilities, some solo minors have carried out similar exploits this year. In February, one of them won the complete award for 3.125 BTC. On July 4, another minor validated a block bringing him 3,173 BTC, or about $ 350,000. Later the same month, on July 27, another solo effort made it possible to secure a block worth around $ 373,000.
Although rare, these gains prove that minors solo are not completely excluded. From time to time, an individual can still leave with the same reward as the immense firm which dominate the network.
At the same time, the growing difficulty and intense competition in Bitcoin's mining shape the strategies of large companies. To answer them, some turn to artificial intelligence and high performance calculation, exploiting their machines and their technical expertise beyond cryptocurrency.
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