Question: Mining pools... let members earn more rewards, on average, than they would by mining alone typically make all their members search for blocks with the

Mining pools...
let members earn more rewards, on average, than they would by mining alone
typically make all their members search for blocks with the same coinbase address (the address that receives mining rewards)
evenly divide up block rewards between all members of the pool, regardless of their computing power
might undermine the security of Bitcoins consensus algorithm, but this isnt a problem in practice since the majority of miners arent part of pools

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Programming Questions!