short answer too, that will take the exact opposite stance as @nicolas-massart ;)
in the long run you'll be always better off mining solo, ever because you get uncles and pay no fees
pool mining reduces your variance, period.
this reddit post is quite interesting, it's basically @vitalik-buterin asking as to why people mine in pools.
It's not true for ...
There are no inputs and outputs in Ethereum, just state changes and balances. Therefore, mining rewards don't have a transaction hash since they are not a transaction.
Each block contains the miner's address, and when the block is published, the miner just gets 5 more Ether added to their balance, without the need for a transaction.
See this question for ...
Short answer : don't try to solo mine with less than 100MH/s.
You will almost never get reward as, during the time you will spend mining, the difficulty raise will lower your luck of mining a block so much that you will finally never mine one.
: note this value gets higher as the time passes.
Having no fees is possible, if all miners decided to accept transactions with a gas price of zero.
But without fees, the public blockchain can easily be attacked: the blockchain would be bloated with whatever content people threw up on it, as well as whatever computation people decided to write. Spammers would take control of the blockchain and it would be ...
Both. The miner always gets the block reward, in the form of newly-printed money if they mine a block. Then for each transaction that block includes, they also get to debit fees (user-defined gas price * gas used) from the account that sent the transaction.
Yes, the hashrate will be split and the difficulty on both ends will go down. A prominent example in the wild the the fork-off of the Ethereum Classic chain at block number 1920000, see table below (block number / Ethereum difficulty / Classic difficulty):
# ETH ETC
1920000 62.41 T 62.41 T
1921000 57.01 T 0.83 T
1922000 56.80 T ...
It's very easy to calculate reward probability with a little information. What is the Network's Global hashrate, Blocks/day, and your percentage of the global hashrate. Because of the law of averages and luck involved in hashing algorithms, your variance in hitting a block time-wise will average out over the higher amount of set data.
Simply divide your ...
That's an old proposal. The idea of having 10% reward in the Froniter launch was abandoned.
The Frontier network was released with 100% reward. The full block reward is and will be 5 eth (at least for PoW) even in Homestead.
You can also check the frontier-guide.
You're reading an article with old information that is no longer correct.
Homestead will be 5 ether per block just as Frontier is.
Also, this is a duplicate of: Will homestead increase Ether's issuance rate?
It doesn't provide any value but for developpement we need this testnet.
So devs are mining on testnet at least to validate their own transactions, but also others. It's a sort of gift to the community as providing code or helping test new versions.
The main benefit for a developper to mine on testnet is to have access to Ether on the testnet. Without ...
Answering a question that links to my own answer on another question, ha!
So there are really two flavors of Casper, one of which is hybrid PoS/PoW and the other is full Pos.
Casper FFG (Friendly Finality Gadget): This is the hybrid that runs PoS as a contract on top of the existing PoW system in order to achieve finality so block history revision is less ...
Rewards for mining a block is the way crypto coins are generated in general. This is the only mode of "supply" of crypto currencies. Of course, Ethereum and some others had a crowd sale of Ethers even before the network was alive.
Another way to think about this is - Miners spend energy to secure the network and hence the reward.
If you are asking why is ...
One block can include up to two uncles. If a block references two uncles, each uncle will earn 7/8th of 5 ETH to whoever mined that uncle. Each uncle being referenced will also earn a small reward per uncle (1/32 of 5 ETH) to the miner who references the uncles in his / her block.
You can find more details here in the Rewards Mining section.
The question is too broad.
An ERC20 token gives you the accounting and transferability as well as compatibility with wallets and exchanges.
In theory, you can sell the tokens for money if anyone will buy them. Why would they? It's not a rhetorical question.
This is an economics, mechanism-design question. It's a little too broad to describe ...
As you guessed, there is no direct "voting".
I'm not exactly sure but I believe the mining reward is given out immediately. At least I think it could be given out immediately.
One of the main ideas about the consensus mechanism is that the network "decides" on which chain is the canonical chain. Basically it's always the chain which is the longest (or ...
EthOS is what i use on my rigs as well.
Depending on which files you edit, for example if it's miner app related then you need to do "minestop" then "minestart" for ethOS to reload the miner application and apply new settings, and if you change something like GPU config in local.conf you need to reboot the whole system.
Looking at your helpme result, it ...
One thing you've missed is that the block reward was 5 ETH between blocks 0 and 4,370,000. At that point the block reward was reduced to 3 as part of the Byzantium hard fork, under EIP-649.
That should give you another 2 * 4,370,000 => 8,740,000 ETH.
Without seeing how you've calculated the uncle and transaction rewards, the above extra may or may not get ...
Take a look at the "Blind Auction" example from Solidity Docs. http://solidity.readthedocs.io/en/v0.4.21/solidity-by-example.html#id2
The problem can be solved by dividing the submission of results in two phases. In the commit phase, distributed nodes commit to a solution by sending the hash of the result (salted with a secret). In the reveal phase, the ...
The issue is that there's not a fixed price per unit of gas. 50,244 gas was used, but how much each user paid for each gas can't be known from just the header.
By examining each transaction in a block through web3.eth.getTransaction() and web3.eth.getTransactionReceipt(), you can eventually figure who paid what, and then determine the final miner reward.
ethminer has the --farm option which allows you to set where your miner fetches work from. If you're solo mining (the default option works for that), then you configure the address from your Ethereum client (geth, parity, etc.). If it's a pool, you use the settings provided by the pool so that it knows where to send payment for work.
Giving to miners a reward for successfully mining a block is a general practice in a lot of Proof Of Work crypto-currency technologies. This is so the miners have incentives to mine and to have a correct behavior. They spend money to purchase hardware and run it and they expect to gain something. This discourages validating invalid transactions since the ...