Difference between revisions of "The Miner Use Case"
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Miners are an important part of the ecosystem so its valuable to examine their requirements. Miners may of course have many motivations for mining a particular blockchain, including a long term view for example, but the analysis below considers the requirements for a miner that is interested in the short-term, in the immediate profitability of mining the Bitcoin SV blockchain. | Miners are an important part of the ecosystem so its valuable to examine their requirements. Miners may of course have many motivations for mining a particular blockchain, including a long term view for example, but the analysis below considers the requirements for a miner that is interested in the short-term, in the immediate profitability of mining the Bitcoin SV blockchain. | ||
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A miners top priority is to ensure that any blocks that they mine are accepted by the majority of other miners and that the other miners mine on top of these blocks. | A miners top priority is to ensure that any blocks that they mine are accepted by the majority of other miners and that the other miners mine on top of these blocks. | ||
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In order to achieve this goal, the features that are most important to a miner are: | In order to achieve this goal, the features that are most important to a miner are: | ||
#Block distribution - sending the latest block to other miners | #Block distribution - sending the latest block to other miners | ||
Revision as of 01:14, 13 September 2019
Miners are an important part of the ecosystem so its valuable to examine their requirements. Miners may of course have many motivations for mining a particular blockchain, including a long term view for example, but the analysis below considers the requirements for a miner that is interested in the short-term, in the immediate profitability of mining the Bitcoin SV blockchain.
A miners top priority is to ensure that any blocks that they mine are accepted by the majority of other miners and that the other miners mine on top of these blocks.
In order to achieve this goal, the features that are most important to a miner are:
- Block distribution - sending the latest block to other miners
- Block reception - receiving new blocks from other miners
- Transaction acquisition - acquiring transactions to include in blocks
- Transaction distribution - distributing transactions to other miners to enhance block distribution