I have an idea: Join poor CPU miners to one cluster and increase their chance to find a block!
Slush added: “Advantages? When you have poor standalone computer, you need to wait many weeks or even months for finding full 50BTC reward. When you join cluster like this, you will constantly receive small amount of bitcoins every day or week (depends on full cluster performance) … I think it is extremely important for bitcoin economy to diversify mining across whole network and not leave mining on few lucky guys with fast GPUs.”
Reaction to Slush’s bold proposal was mixed. Some bought into the idea, while others were distinctly unimpressed. “Isn’t cooperative mining a form of communism?” responded one Bitcointalk user. “I think it’s useless and much harder to do than one might think.” “This is fundamentally flawed,” snapped another pooled mining opponent.
Slush remained undaunted, though, and within three weeks of his proposal, “cooperative mining,” as it was then known, began. Slush Pool was compatible with Jeff Garzik’s bitcoin CPU miner at launch as well as a couple of early GPU miners. “There is already ~600000khash/s [600 MH/s] of power and more will come tomorrow,” proclaimed Slush. He wasn’t wrong.
Today, Slush’s cooperative mining Bitcointalk thread has grown to 1,148 pages, and Slush Pool, which currently captures 9.3% of the BTC network hashrate, has also grown spectacularly. Since 2010, it’s mined over 1 million BTC and now boasts 8,500 miners and a hash rate of more than 5 EH/s – an increase of 8.4 billion X in nine years.
Bitcoin History is a multipart series from news.Bitcoin.com charting pivotal moments in the evolution of the world’s first and finest cryptocurrency. Read part 12 here.
Images courtesy of Shutterstock and Blockchain.com
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source: https://news.bitcoin.com/bitcoin-history-part-13-the-first-mining-pool/
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