With mining pools, individual miners can join forces with other miners, combining their computing power to help increase their chances of solving the difficulty puzzle. And if you're wondering who this Satoshi fella is, we've got another guide on that too. For a deeper understanding of how mining works, we've written a guide explaining all. If the network becomes really unpopular, the difficulty level decreases to reflect the number of miners mining.Д«itcoin is by far the most popular currency currently being mined, meaning the puzzle difficulty is high in relation to how it was when the network first started in 2009. If the network became wildly popular, the difficulty rating would go up requiring more computing power to solve. It was designed to make solving the puzzle at the heart of proof of workВ blockchains like bitcoin consistently difficult, no matter how many people were trying to solve the puzzle. In Satoshi Nakamoto's infamous white paper, he/she/they outlined a concept called puzzle difficulty. But wait, why do they do that? A quick recap on the history of mining. What are mining pools?ДЄ mining pool contains thousands of interdependent miners running the same mining software, known as a вЂњclient.вЂќ The idea is that the more people working collectively to solve the puzzle at the heart of mining, the more likely they are to get a slice of the rewards.

Below we dive into these pools in greater detail. Miners began working together to increase their chances of a pay-day. It was easy enough to solve the proof-of-workВ puzzles at the heart of blockchains that they could run a mining rig from their bedrooms.Д«ut as Bitcoin's popularity increased, so did the difficulty of the puzzle at the heart of the network, meaning individuals were increasingly less likely to reap the rewards. In the early days of bitcoin, mining was a one-man job.

Best mining software for slush pool