Solo Miner Receives $160,000 Bitcoin Block Reward, Learn How You Can Mine BTCS With Your Phone

According to recent reports, a solo miner has received the full 6.25 Bitcoin reward after solving block 803,821. In addition, the rewards average to $160,000. The miner was utilizing a solo Ckpool mining service and hence acquired rewards even though the odds were less as giant firms control 50% of the mining services.

Mining is an essential practice in proof-of-work crypto networks. The mining process involves using electrical power and nodes to solve complex computational equations. This mechanism aids in improving security and allows validators to provide processing power to networks like Bitcoin Spark. Mining also enables the generation of new blocks on-chain. Bitcoin Spark will solve decentralization in mining with the new proof-of-process consensus mechanism.

How to mine Bitcoin

The process of mining Bitcoin is simple. However, one must have high amounts of electricity to power the mining computers, nodes that conduct the mathematical computation equation, and enough processing power. Validators who manage to create new blocks in the network are awarded with the platform’s native currency, BTC.

Bitcoin Spark Mining System Amazes Validators

New projects have stormed the decentralized virtual arena. However, no project came with a glimmer in the way Bitcoin Spark did to gain attraction in decentralized finance. Bitcoin Spark has proved to be on the verge of creating massive adoption for Web3 natives. The project has distinctive features that will promote improved scalability in ledger technology.

Mining is an integral part of a decentralized platform that leads to advanced security systems and enables validators/miners to generate income through the rewards provided by the project. The platform seeks to promote decentralization in the blockchain ecosystem with its new double validation mechanism, proof-of-process (integrated proof-of-stake and proof-of-work).

The new network also has a specialized mechanism that prevents unequal distribution of rewards between larger and smaller participants. However, this specialized mechanism allows those with more extensive mining capabilities to earn more rewards in a balanced manner.

According to the graph above, individual validators’ processing power will grow. However, their rewards will remain relatively high. This is to prevent the Bitcoin situation, where large mining firms such as Foundry USA and Antpool have more than 50% control in the mining industry. This may affect security and decentralization in the ledger technology as there are risks of 51% attacks if the two mining organizations decide to team up and edit the blockchain.

Bitcoin Spark has already captured the attention of institutional and individual investors compared to any other presale project. This is because the platform has a unique marketing strategy that is meant to attract new users to the platform. The marketing strategy involves storytelling to break the monotony in the traditional project promotion tactics.

Bitcoin Spark has also leveraged modern technology to create awareness of its presale level to a broader audience. Strategic positioning is also a package in the Bitcoin Spark development process as the network places itself as the best imminent project. Moreover, the platform’s presale is ongoing and is at its third phase, where the native token, BTCS, goes for a cheap price of $2 each. Mining with Bitcoin Spark is easy as the platform renders processing power to individuals and external organizations able to run resource-hungry simulations.

Learn more about Bitcoin Spark on:

Website: https://bitcoinspark.org/

Buy BTCS: https://network.bitcoinspark.org/register

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