Exactly 15 years ago, a solution was proposed for CPU miners who had to compete with GPU miners on the Bitcoin network.
On November 27, 2010, Bitcointalk forum member “slush” announced that he had designed the first Bitcoin mining pool.
Before that, individual miners using CPU-based systems faced intense competition, especially from those mining with GPU-equipped computers.
He proposed a solution to combine the computing power of multiple CPUs.
The goal was to increase the chances of finding a block and thus earn a proportional reward. By joining the mining pool, CPU miners could enjoy more consistent payouts compared to solo mining, where finding a block could take weeks or even months.
For reference, last week (November 21), a solo miner hit the jackpot and found the hash to mine block 924,569.
His equipment produced a hashrate of 1.2 TH/s, while the Bitcoin network that day was at 1.14 ZH/s.
That means his daily odds were 1 in 6.6 million, or roughly 18,000 years of mining to find a single block.
At least since then, it has been possible to connect to a mining pool and get paid proportionally, instead of waiting 18,000 years…
#btc
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#nostr
