Blockchaininfo mining pools

Bitcoin Mining Pools

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In this piece we present data displaying the proportion of empty blocks blocks containing only the coinbase transaction produced by the different mining pools, over time. We look at the mining methodologies pools could choose and how these policies could impact the proportion of blockchaininfo mining pools blocks. Some claim that circumstantial evidence supporting this allegation, is that some mining pools produce more empty blocks or more smaller blockchaininfo mining pools than other mining pools.

Readers have blockchaininfo mining pools us for data backing up this assertion, as only limited data has been published on this specific topic, as far as we are aware. We are not going to draw any firm blockchaininfo mining pools from the data on the prevalence of empty blocks, however we present it for your consideration.

Figure 1 — Summary chart — Rolling average percentage of empty blocks over 1, block period by pool. Data up to 25th August Due to the different frequency with which different pools find blocks, the same dates on the chart could reflect different periods. Figure 2 — Percentage of empty blocks by pool — YTD. Data up to 22nd October Figure 3 — Percentage of empty blocks blockchaininfo mining pools pool — Figure 4 — Percentage of empty blocks by pool — Figure 5 — Percentage of empty blocks by pool — Figure 6 — All time percentage of empty blocks by pool — Monthly data.

Data only included blockchaininfo mining pools the pool found blocks or more within the month, Data up to 22nd October Figure 7 — onwards — percentage of empty blocks by pool — Monthly data. Figure 8 — YTD — percentage of empty blocks by pool — Monthly data.

Summary statistics by year top 11 pools ranked blockchaininfo mining pools the last 12 months. Figure 9 — Summary table for to 25th August.

Figure 10 — Summary table for Figure 11 — Summary table for In order to build on top of the previous block and extend the chain, mining pools need the hash of the previous block, but not necessarily the full block with all the transaction data. Mining pools are in a rush to make the chain as long as they can as fast as possible to increase profits. Therefore miners often have a policy of trying to find the next block before they have even had time to download and verify the previous block.

If this occurs, a miner typically avoids putting any transactions in the block apart from the coinbase transactionas the miner may not know which transactions were in the previous block and including any transactions could result blockchaininfo mining pools a double spend, resulting in an invalid block rejected by the network. The efficacy of SPV blockchaininfo mining pools is debated in the Bitcoin community, with advocates claiming blockchaininfo mining pools is legitimate profit maximising activity.

While opponents of this policy claim it reduces the transaction capacity of the network since empty blocks still keep the mining difficulty up and that it increases the probability of an invalid block receiving more confirmations, ensuring the network is less reliable for payments as double spends are more likely.

Different mining pools are said to have different policies. As figure 9 shows, Bifury produced 0. SPV mining is believed to be the primary cause of this difference. For example figure 8 could be said to demonstrate the following:. In our view this hypothesis is certainly possible, but also reasonably weak.

Further evidence may be required to draw any firm conclusions. Another factor to consider is timing. SPV mining occurs because miners are keen to get to work on the next block quickly, before they have had time to validate the previous block. Therefore, blockchaininfo mining pools the majority of cases where miners do not quickly find the next block, say within 30 seconds, the impact of SPV mining should be limited, since miners do have time to validate.

Figure 12 below is a repeat of figure 3 above, except this time we have excluded the empty blocks which occurred within 30 seconds of the previous block being blockchaininfo mining pools. This may partially remove the impact of SPV mining.

Although the data with respect to timing may not be reliable. Figure 12 — Percentage of empty blocks by pool — 30 second gap or more from the blockchaininfo mining pools block Source: The time blockchaininfo mining pools may not be reliable. The analysis in this piece only looks at empty blocks. In a later piece we plan to look at the proportion of these smaller blocks in more detail.

In the below analysis we compared the timing between the previous blocks and the blocksize, for two particular pools. The charts illustrate that the variations between pools are not just about empty blocks, but also smaller blocks. The y-axis is the time gap from the previous block in seconds, the x-axis is the blocksize in bytes.

It is difficult to draw any firm conclusions from these charts. However one ironic thing stands out to us, from this analysis. The pools arguing most vigorously for larger blocks, tend on average, to produce smaller blocks.

Skip to content Abstract: Figure 1 — Summary chart — Rolling average percentage of empty blocks over 1, block period blockchaininfo mining pools pool Source: TOP 3, KB 0. Blockchaininfo mining pools 27 KB 0. Pool policies Different mining pools are said to have different policies. For example figure 8 could be said to demonstrate the following: Up until April Antpool orange produced the highest proportion of empty blocks, at a rate far higher than its peers In April this switched to BTC. The time gap between blocks Another factor to consider is timing.

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Stay tuned with the latest conference news and events from the world of blockchain technologies. In , bitcoin mining pool plays a significant role in obtaining this cryptocurrency. The complexity of bitcoin network has already reached such a level that it is impossible to mine coins independently.

We will examine the concept of mining pool, figure out which of them are the most popular among miner bitcoin, as well as reveal the threat that can be caused by coin mining. A Bitcoin mining pool is special servers designed for getting cryptocurrency.

A mining pool unites users who have a small farm, allowing to obtain the reward more efficiently and faster, despite week capacity of their farms. To join the pool, a miner should pay a fee. Choosing a pool, one should pay attention to its reliability, security level, fee rate, and withdrawal simplicity.

As of the beginning of , the top three representatives of best mining pool with the most powerful hardware include Chinese communities that have shown good results for users. The rating is based on the blockchain. It is the most rapidly developing service for collective cryptocurrency mining owned by Chinese investors — BitMaintech.

The platform allows to examine the pool statistics. A Chinese service owned by Bitmain Technologies. Currently, it features Pay-off limit is absent. The minimum withdrawal sum is 0. It offers two pay-off systems: The platform includes two unique services: It was launched in the end of by Chinese investor Jiang Zhuoer. Despite its short-term existence, the service has managed to become one of the leaders in several months.

Besides, the pool is private. It iss available not for everyone. It is still unclear whether the pool will further cooperate with miners or not. One of the main mining problems is a non-ecological performance of the cryptocurrency generation process.

As mining needs more energy, bitcoin can lead the planet to the energetic collapse. It is difficult to find an accurate information about the amount of electricity required for mining, because it is not regulated by the government and is even banned in some countries.

Leonardo Weese , a mentor from Hong Kong business accelerator specializing in blockchain startups, estimates energy consumption based on technical aspects of generation process.

Weese relies on bitcoin mining speed. He figured out that as of December 7, , one required no more than S9 miners to provide such a speed. Totally, they consumed around 1. However, there are other data as well. According to the estimates of UK-based Power Compare , bitcoin mining generally consumes about If one unites all miners into a single state, it will be ranked 61st in the world in terms of electricity expenses.

Ireland, Slovakia, Iceland, and almost all the African countries consume less energy than bitcoin mining. Researchers note that the volume of power consumption is growing. If the trend keeps existing, miners will spend more electricity that the whole UK by October At the same time, Jonathan Koomey , Stanford University expert, believes that bitcoin mining electricity consumption is exaggerated.

He compared the mining situation with the Internet development in the mids when specialists overestimated Internet power consumption in the USA 8 times. Buy a ticket Stay tuned with the latest conference news and events from the world of blockchain technologies.

Main News The best mining pool: Pool concept and purpose A Bitcoin mining pool is special servers designed for getting cryptocurrency. Mining pool To join the pool, a miner should pay a fee. The best mining pool As of the beginning of , the top three representatives of best mining pool with the most powerful hardware include Chinese communities that have shown good results for users.

BTC It is the most rapidly developing service for collective cryptocurrency mining owned by Chinese investors — BitMaintech.

How much electricity bitcoin consumes One of the main mining problems is a non-ecological performance of the cryptocurrency generation process. Contacts Ivan Gritsuk For exhibitors and sponsors i. Valeriy Gordyna For exhibitors and sponsors v. Aleksandra Yanko For exhibitors and sponsors a.

Pavlo Machulianskyi For exhibitors and sponsors p. Tatyana Chirva For exhibitors and sponsors t. Nataliia Bulhaka Customer service support n.

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