Solo mining refers to an individual miner attempting to validate blocks on a blockchain independently, without joining a mining pool. The solo miner retains the entirety of any block reward if successful, but the probability of solving a block is extremely low for most individuals. This method requires substantial computational power to be viable. It contrasts with pooled mining, where rewards are shared.
Context
News frequently contrasts solo mining with pool mining, especially when discussing the decentralization of blockchain networks. Reports often highlight the decreasing viability of solo mining for major cryptocurrencies due to escalating network difficulty. This makes it a topic of interest for those tracking mining economics.
A single Bitcoin miner defied immense odds, successfully mining a block and securing a significant reward, highlighting the decentralized network's unique opportunities.
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