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That was my thinking as well. All pools should behave selfishly. If they all behave this way, then there's no incentive for the miners to move towards a single
by sktrdie 13y ago
That was my thinking as well. All pools should behave selfishly. If they all behave this way, then there's no incentive for the miners to move towards a single pool, therefore avoiding centralization. Am I missing something?
- petertodd 13y agoYes, the strategy works better if you have a lower-latency network at your disposal. What it creates is a winner-take-all situation where the mining pool with the best optimized network, some function of latency-vs-cost, gets a disproportionate reward even when all miners are pursuing this strategy.
- anigbrowl 13y agoThere is an incentive to move to the largest mining pool, since that has the greatest chance of discovering a new block and gaining a selfish advantage.