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Don't mining pools concentrate on mining new blocks, as it's more profitable? Can't we have a mining pool with old ASIC/GPU miner that would do ONLY confirmatio

by akerro 10y ago

Don't mining pools concentrate on mining new blocks, as it's more profitable? Can't we have a mining pool with old ASIC/GPU miner that would do ONLY confirmations, and would do all confirmations, even those with minimal fee?

AndrewDucker 10y ago
Transactions are confirmed through the mining of new blocks. There is no other way to confirm transactions, and it's the purpose of block-mining.
- akerro 10y ago
  Ah, ok thanks. SO the only way to fix it is by deploying new miners.
  - alemhnan 10y ago
    If you deploy more miners the average difficult to mine each block will increase (as for the bitcoin rules) so you are back to square one.
    - akerro 10y ago
      Yup, I expected this.
      - josu 10y ago
        The way to fix this is increasing the size of the blocks, which is trivial from a technical standpoint, but it has some implications that the current majority of miners are not willing to accept.
  - sanswork 10y ago
    No that wouldn't actually fix it. There is a limit to how many transactions can be processed regardless of how many miners are running. Adding more miners doesn't actually increase capacity just the difficulty.
ominous 10y ago
The new blocks are the incentive for the confirmations to be accomplished. There are no "types" of mining, afaik.
- rlpb 10y ago
  > The new blocks are the incentive for the confirmations to be accomplished. Not quite. The new blocks are the confirmations. > There are no "types" of mining, afaik. Right.