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Title: Extremely Rare Bitcoin Block Produced by Solo Miner
U.Today has reported that a solo miner successfully mined a block of Bitcoin last October, marking a significant milestone in the history of cryptocurrency mining. This achievement is particularly noteworthy as it is the first time since 2013 that a single miner has found a new block without the involvement of any third parties.
It’s estimated that the chances of finding a block when solo mining with devices like Antminer S21 XP Hydro, one of the most powerful ASIC miners currently available on the market, is just 1 in 1,648,330. This means it would take roughly 31 years for such a device to win a block.
In contrast, during Bitcoin’s early days, it was possible to mine new coins using only one’s personal computer. However, as the cryptocurrency gained popularity and adoption, mining difficulty began to grow at an alarming rate, requiring significantly more computational power. This led to the emergence of mining pools.
Slush, the first Bitcoin mining pool, was launched in 2010, marking a significant shift towards collaborative mining efforts. Today, Foundry US and AntPool are currently the two biggest mining pools in the world.
The ability to mine blocks solo highlights the incredible progress made in cryptocurrency technology. With more powerful devices and increased competition among miners, it’s remarkable that someone has been able to achieve this feat.
Source: u.today
