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Author Topic: Newly mined blocks  (Read 458 times)
jesse11
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March 29, 2014, 09:31:26 PM
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What I don't understand, who gets a newly mined block. With all the Pools mining on the blockchain and all the mining power out there, who gets the block. The one with the most trans in the new block or the one with the last trans in the newly mined block?

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The network tries to produce one block per 10 minutes. It does this by automatically adjusting how difficult it is to produce blocks.
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Rannasha
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March 29, 2014, 10:21:52 PM
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Mining is like a lottery where tickets are generated randomly and the amount of hash power determines how quickly you can generate tickets. The first miner / pool that finds a winning ticket can mine a new block. After that block has been submitted to the network, the whole process starts over.

So large pools have a better chance of getting the winning ticket first, but a small miner will still win the race every now and then.
jesse11
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March 29, 2014, 10:30:50 PM
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I understand, but the one that "creates" the new block is the one that gets it?

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March 29, 2014, 11:05:28 PM
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I understand, but the one that "creates" the new block is the one that gets it?

A miner does not 'get' a block. A block, once created, is broadcast to the network and added to the blockchain. What the miner gets is the reward for mining the block, which is the block subsidy (currently 25 BTC) plus transaction fees. This reward is awarded to the miner by a special transaction (the so-called coinbase transaction) that the miner has included in the block he just found.
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March 29, 2014, 11:19:03 PM
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Thanks Rannasha, I got it  Smiley  Adding 25 BTC to ones wallet would be hitting the BTC Lotto Jackpot.

Mining with: BE's,BE Cubes, K16's, AntMiners U1's and AntMiners S1's
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