🏁 Proof of Work: The Mining Competition

Race to solve cryptographic puzzles and secure the blockchain

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Introduction

⛏️ The Mining Race

Proof of Work mining is a computational race where thousands of miners compete to find the next block. Only one wins—the rest start over.

How the Race Works

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The Goal

Find a hash below the target difficulty

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The Method

Try billions of nonces per second

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The Winner

First valid hash wins the block reward

⚔️ Interactive: Miner Profiles

Compare different types of miners in the race:

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Solo Miner

100 TH/s

Typical Reward

Full block (6.25 BTC)

Win Probability

0.0001% per block

Status

Active

✅ Advantages:

+Keep 100% of rewards
+Complete independence
+No pool fees

❌ Disadvantages:

-Extremely rare wins
-High variance
-Inconsistent income

Why It's a "Race"

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Everyone starts simultaneously

When a block is found, all miners immediately start on the next one

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Speed determines winners

More hash power = more lottery tickets = higher chance to win

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Winner takes all

Only the first valid solution earns the reward (currently 6.25 BTC)

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Losers get nothing

If someone else finds it first, your work is worthless

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Real-World Numbers

•Bitcoin Network: ~400 EH/s (400 million trillion hashes/sec)
•Block Time: New winner every ~10 minutes on average
•Active Miners: Thousands of mining operations worldwide