Thursday, July 25, 2024

To solve a legitimate block, a tiny Bitcoin miner defies huge odds

A Bitcoin miner belonging to Solo CK mining pool has made history against all odds fortunately adding a new Bitcoin blockchain and taking 6.25 Bitcoin. Which are worth $266,000 at the current price, with their hard work.

The lucky miner had their calculative power connected to Solo CK, a mining pool that was offering out undesignated solo bitcoin mining.

The miner, who has probably been mining with 1 or 2 machines, decoded a block that had an adequate hash rate extent – 126 Th/s. As per the tweet posted on Tuesday by a Solo admin Con Kolivas co-equal to a very small percentage of the aggregate Bitcoin network hash rate, that happens to be 175,000,000 TH/s.

When Kolivas asked about the opportunities of adding a valid block to the Bitcoin network with this small harsh rate. He said it all depends on how long it has been since they are mining.

Hass McCook, bitcoin mining specialist and a member of Bitcoin Mining Council also said that he himself has never heard or seen something like this before. And to say that this is very extraordinary is will be an understatement.

According to his calculation, the chances are 1 in 10,000 of finding a block/day with this low hash rate, or if one could add one block on average every 27 years.

He also adds that usually larger miners can solve blocks statistically, but there is no doubt rational logic that a smaller miner can’t solve one.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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