RATE Group | Decrypt Media Spy Mining Report Shows Ethereum Pools Profiting by Mining Empty Blocks
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Decrypt Media Spy Mining Report Shows Ethereum Pools Profiting by Mining Empty Blocks

06 Oct Decrypt Media Spy Mining Report Shows Ethereum Pools Profiting by Mining Empty Blocks

Posted at 00:20h in Ethereum News by

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Pools Profiting by Mining Empty Blocks

Etherdig, an Ethereum mining pool, has developed a new way to make profit – by collecting mining fees without processing transactions. The concept, called “spy mining” is becoming a growing trend in the industry.

As a preliminary matter, it is important to understand that blockchain in a blockchain do not contain the same amount of information. For instance, Bitcoin blocks have a data limit of one megabyte and Bitcoin Cash blocks are limited to 32 megabytes. Blocks do not need to hold this much data to be verified and added to the chain.

Verification occurs when someone closes a block by working out the hash, which is a code of all the block’s data. The code is then necessary to form the next block. Mining pools broadcast to each new hash to all the miners that are signed up and they will start working on it.

It is impossible to create a hash without viewing the block’s data. It is possible, however, to use a created hash to…

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