![]() You can unite with your friend and find the block together, and divide the gainings in a fair way – you get $10, and his part is $60. ![]() Let’s suppose that the reward for one block is $70. You roll each dice once and try to get 5 (five).Īpparently, your friend has much more (six times more) chances of getting five, but it doesn’t mean you can’t win. Let’s say you have one video card, and your friend has 6-GPU Mining Rig, this is equivalent to you having one dice, and him having six dices. You are competing with the whole world, but the point doesn’t change. The process of solution searching in mining is equivalent to rolling the dice, even though it sounds strange. In real life, you can get lucky, and the number 5 will appear a few times in a row if you experiment. In the perfect world, if you roll it many times, number 5 should appear in 16,67% of cases, i.e., every sixth time (since the dice has six faces), right? Let’s imagine you are rolling the dice and you need to get 5. If you find a solution for a block - you get the coins if you don’t - you get nothing. SOLO mining is a type of cryptocurrency mining while using your own (or leased) hardware but without any help from other miners. It works the same way as standard pool: you connect to a specified address with your mining software, and you get all the available K1Pool features: statistics, bots, etc. ![]() Therefore K1Pool presents the SOLO pools for every coin we have. It is always hard to run the full node for each coin you want to mine at your local facilities. However, for some cryptocurrencies, you could still find a block solution within a reasonable amount of time even if you mine alone. For instance, in Bitcoin Gold blockchain the reward is 6.25 BTG, in Ethereum network - 2 ETH, in the Ravencoin network - 5000 RVN, etc. The pool who discovers the answer gets a reward. This reward is shared proportionally to the efforts applied by the miners and forwarded to their wallets. Mining pools get solutions from all the connected miners, and if one of those numerous solutions appears to be a proper one, the pool gets a reward for the created block.
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