Author: Mike Hearn 2014-07-05 08:43:05
Published on: 2014-07-05T08:43:05+00:00
In the world of cryptocurrency mining, the concept of a "runner up" does not exist due to the progress-free nature of hashing. Instead, miners are rewarded for "near miss" solutions through pools that pay for shares that almost meet the difficulty target. The challenge lies in implementing this reward structure without miners giving up their right to block creation. While the idea of rewarding runners-up may seem intuitive, it is important to understand the lottery-like nature of mining where everyone has an equal chance at finding a solution, regardless of previous attempts.
Updated on: 2023-06-09T00:42:18.216665+00:00