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Author Topic: How blocks are divided to pools?  (Read 767 times)
brunoshady
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June 04, 2011, 04:50:55 PM
 #1

How are them?


Every mining pool is calculating a different block? or could them calculate the same block?

How the system works?
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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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June 04, 2011, 06:59:20 PM
 #2

It's a lottery. Whoever gets it first wins, and that "win" needs to be confirmed by the rest of the network. So if pool A generates a block at time 1, and pool B generates a block at time 1.0000001, pool A will win, assuming the generation is validated by everyone else.

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June 05, 2011, 08:42:52 AM
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And since every new block is built on the hash of the previous block, everyone starts over using that hash when a block has been generated. So, in effect, everyone is working on the same block.

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