ARE MINING POOLS BECOMING A PROBLEM?

in hive-183397 •  6 months ago 

Assalamu Alaikum


How are you all? Today I will discuss with you about ARE MINING POOLS BECOMING A PROBLEM?.I will try to present my experience. I am young and have very little experience so please excuse any mistakes. However, what is increasingly being forgotten is that there is more to mining than just hashing A person involved in the entire process needs to run a node to reliably get updates on the latest state of the blockchain, then start building a new block. This includes validating previous blocks, discovering uncertain transactions and usually selecting the most profitable of them, creating a generation of transactions that pay for themselves, creating multiple Merkle trees of these transactions, and finally hashing to resolve this block.

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Transactions within the block template will constantly change as new ones are broadcast to the network, and when someone else finds a new block, the miner must move on to building on top of it, dumping all transactions already on the blockchain. Create a new template. A bitcoin mining is only capable of hashing. In the current environment, all other aspects of mining are usually delegated to mining pools. This has led to some confusion. I will mentionPool and Blockspace Market
The implications of mere hashing and having a pool extend beyond soft fork activation. For example, miners are currently not fully aware of what blocks will look like once solved, meaning that a miner operates blindly believing that the block contains only desired transactions. But you have a clear violation of that trust on blocks like this - this is the famous block that started the "Ordinal" craze.
Block space is valuable – it's part of what makes Bitcoin work in the long run – but in a world where only a few players can have a template that they eventually create on the blockchain, those same entities have near-exclusivity to sell this space and band in return.

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will be paid from Are they obligated - or even likely - to be direct with their miners that they are doing this? Going forward will they move their hasher payments to sell blockspace out of band?
This cascades between people dealing directly with pools and ignoring mempools altogether Some claim that mempools are doomed regardless - and that the current state of centralized template construction is merely accelerating it, but this is certainly not desirable in any case, and would be overly pessimistic to assume in a world where truly decentralized template construction is somehow feasible. Then the out-of-band payments must go to a larger group of people if anyone who buys the block space wants to make it onto the chain in the same time frame. It will probably be more transparent and reminiscent of the way it currently works. Conversely, the "supernode" will hopefully break into smaller pieces and thus no longer be able to offer the same guarantee.Today's discussion ends here. I hope you find it interesting and able to understand. Share your thoughts on today's topic. Wishes and blessings to all. Everyone stay well stay healthy stay with Steemit

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I think recently now, what is happening is a lot of people are really abusing the mining pool

Mining pool is a new thing for me and I have no idea about it how it works so reading this article was informative for me.

Very nice article about mining pool, I don't know how it works, thank you for sharing it with us.