It’s like winning the lottery – Sometimes, the chance of statistics gives us beautiful curiosities. While a lucky solo miner on the Bitcoin (BTC) network had already achieved the improbable by validating a block of transactions, now a second has just achieved the same feat!
He wins $275,000 in BTC mining ‘lottery’
On January 11, 2022 a solo miner of the mining cooperative Solo CK Pool had the incredible good fortune to be the first to validate the consensus calculations by proof of work (PoW) of the network Bitcoin.
Instead of minors are distributed the BTCs found in proportion to their provided computing power, like in a classic mining pool, this type of solo miner cooperative simply parallelizes several individual miners. If they find a block, they win 98% of the BTC they receive as a reward – 2% still going back to the pool.
Barely 2 days after the previous lucky one, nowa second twist of fate allows one of the Solo CK Pool miners to hit the jackpot (see the transaction here)! Indeed, this January 13 a new individual miner solved a Bitcoin PoW calculation, winning the block award N°718 379, the amount of 6.25 BTC – is around $275,000 at the time of this writing.
According to Solo CK Pool admin Dr. Con Kolivas, the miner only had a computing power of 116TH/s (terahashes per second) on the 170 PE/s (i.e. 170,000,000 TH/s) of global hash rate on the BTC network, i.e. a share of 0.000068% only !
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When statistical improbabilities come true: stale blocks”
That these 2 individual miners find blocks on their own, and at such a short interval, is remarkable. statistical miracle. Yet this kind of mathematical exceptions have been made from time to time since the beginnings of the Bitcoin network.
This is particularly the case of ” stale blocks », when the statistical bad luck (this time) causes two BTC miners to end up validating a block of transactions at the same time.
But one of these two blocks, although validated simultaneously, becomes obsolete when a new transaction block comes to continue the blockchain behind the other, which will be preserved. This may have consequences for double spend, if one (or more) transaction of the lapsed block is included neither in the duplicate block or its successor.
Fortunately, this happens very very rarely, and will happen even less often as the competition from miners and their computing power will be strong and will increase. One of these cases of stale blocks was thus detected in January 2020.
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