Solo Mining: An Introduction
What is Solo Mining?
Solo mining is a method of cryptocurrency mining where a single miner, using their own hardware, attempts to validate a block on the blockchain. It involves the miner independently carrying out the mining process, without joining a mining pool.
How Solo Mining Works
When solo mining, the miner's computer solves complex mathematical equations to search for a valid hash. If successful, the miner receives a block reward for validating the block and adding it to the blockchain. However, solo mining is a highly competitive and risky endeavor due to the low probability of finding a block alone.
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