So far as I perceive there are two methods by which a person (or an organization) can mine Bitcoin:
- Solo: if one has sufficient hashrate to safe a block usually sufficient to pay for the electrical energy payments, or one is only a hobbyist taking part in Bitcoin lottery, that is normally an individual who controls very low hashrates and its keen to go mine at a loss.
- Or by a mining pool: someplace in between the earlier two instances, an individual that should safe a income for each kWh of power it consumes however with a hashrate too low to supply a block in an inexpensive period of time.
Mining solo by your individual bitcoin full node is the perfect solution to contribute to the decentralization of the consensus and energy of the community.
However I’ve seen there are various solo mining configurations, by which the miner tools could be pointed to different individuals’s server. solo.ckpool.org is one instance and
one other instance is public-pool.io to which nerd miners are connecting to.
On this case I see room for dangerous conduct from the pool operator that could possibly be sending
block templates to the miners by which the coinbase transaction pays to some bitcoin tackle that is not the solo miner tackle.
Except there’s a solution to confirm on the miner aspect that the {hardware} is definitely
engaged on the block with the proper coinbase vacation spot tackle each time
a block template is obtained.
Then again, so far as I perceive, pool mining is absolutely based mostly on trusting the pool operator to not run away with the Bitcoin reward, as a result of the coinbase tackle is managed by the pool operator and never the one miners.
It has occurred not too long ago that F2Pool mined a block with a 20BTC charge on one transaction, and that cash did not go to the miners however it was refunded to the corporate to made that transaction. It would not have occurred if there was some type of sensible contract within the coinbase lock script that bind the reward to the miners as an alternative of giving all of it to the pool tackle.
One other attainable state of affairs is {that a} pool will get coerced by the native authorities to request
KYC from participant miners (eg. Foundry USA) or the miner share would not receives a commission.
Are there mining swimming pools on the market that don’t require belief?
Why is it that 90% of the hashrate is focused on trust-based swimming pools?
Why is it that such an vital side of the Bitcoin protocol (mining)
has been uncared for to the purpose {that a} mid-size miner has to attach
to a Pool that both requires KYC or can steal the reward at will?