2024-06-05T14:57:27Z https://nostr.ae mempoolresearch https://nostr.ae/npub1m7qjg4hsa2q32rtekewpdn54guh508tlh6ztml7ssluj6vgflensy6m4gz https://m.primal.net/IZiM.png https://m.primal.net/IZiM.png https://nostr.ae/nevent1qqsx8vm865wew3668xnu9ddfapk670qq8d5xrd2sft4k3kx77lqwqfszyr0czfzk7r4gz9gd0xm9c9kwj4rj73ua07lgf00l6zrljtf3p8lxwgnlq68 In reply to <a href='/nevent1qqsx9qwmkajcvhx88cwdnv4hhnqf6nft5x4dme62dy06w8jnq45z7dsc7necd'>nevent1q…necd</a><br/>_________________________<br/><br/>Recommendations for pools &amp; miners:<br/><br/>Pools/Miners with frequent empty blocks and long switching intervals should investigate delays and reduce switching time to maximize revenue.<br/><br/>Further reading:<br/><br/>For an in-depth analysis, read the full report prepared for mempool research <span itemprop="mentions" itemscope itemtype="https://schema.org/Person"><a itemprop="url" href="/npub18h0w55nsp839ezxnggf00jd2xc6yl0ht62mf5p8wwllu8s80wdcs83ws8m" class="bg-lavender dark:prose:text-neutral-50 dark:text-neutral-50 dark:bg-garnet px-1"><span>OrangeSurf</span> (<span class="italic">npub18h0…ws8m</span>)</a></span><br/><br/><a href="http://mempool.space/research">http://mempool.space/research</a>. 2024-06-05T15:04:46Z https://nostr.ae/nevent1qqsx9qwmkajcvhx88cwdnv4hhnqf6nft5x4dme62dy06w8jnq45z7dszyr0czfzk7r4gz9gd0xm9c9kwj4rj73ua07lgf00l6zrljtf3p8lxwdkz2qt In reply to <a href='/nevent1qqs9cc33dwghqxp0hrcywfvyhj36pj234246m4quwtqr2pmh6m2v92sn0ek74'>nevent1q…ek74</a><br/>_________________________<br/><br/>Profitability:<br/><br/>Currently if miners switch to full templates within ~7 seconds, the empty+full strategy can be slightly more profitable. However, many miners struggle with timely switching.<br/><br/>(Values sensitive to networking conditions and fee proportions, see report.)<br/><br/> <img src="https://m.primal.net/IZij.png"> 2024-06-05T15:04:05Z https://nostr.ae/nevent1qqs9cc33dwghqxp0hrcywfvyhj36pj234246m4quwtqr2pmh6m2v92szyr0czfzk7r4gz9gd0xm9c9kwj4rj73ua07lgf00l6zrljtf3p8lxw9u0xm6 In reply to <a href='/nevent1qqszuvnlg5hp0crav7g978kyevvdd6urewmntl6uwdzxxvea6j7kxwgq62gua'>nevent1q…2gua</a><br/>_________________________<br/><br/>Pool behavior:<br/><br/>Not all mining pools produce empty blocks. For example, Foundry and Mara produce none. <br/><br/>Of those pools that do find empty blocks, Spiderpool and Ocean have much higher empty block rates than average.<br/><br/> <img src="https://m.primal.net/IZii.png"> <br/><br/> 2024-06-05T15:03:42Z https://nostr.ae/nevent1qqszuvnlg5hp0crav7g978kyevvdd6urewmntl6uwdzxxvea6j7kxwgzyr0czfzk7r4gz9gd0xm9c9kwj4rj73ua07lgf00l6zrljtf3p8lxwtsawc7 In reply to <a href='/nevent1qqsdjma7mla52prm5zkujy85d7uy9hd4n3tmv20veltwkhz3jt3axlch0f3uz'>nevent1q…f3uz</a><br/>_________________________<br/><br/>Template Approach:<br/><br/>Each pool decides whether to send empty templates and follow up with full templates, or only send full templates.<br/><br/>Delayed switching to full templates means miners miss out on transaction fees. Only sending full templates causes a slight extra delay.<br/><br/> <img src="https://m.primal.net/IZif.png"> 2024-06-05T15:03:12Z https://nostr.ae/nevent1qqsdjma7mla52prm5zkujy85d7uy9hd4n3tmv20veltwkhz3jt3axlczyr0czfzk7r4gz9gd0xm9c9kwj4rj73ua07lgf00l6zrljtf3p8lxwfh4fd3 In reply to <a href='/nevent1qqsq2jg20snadh5v7emp4fsy5n69t2ll0755tzauzpvu53kwjhqvg3c0yc4ev'>nevent1q…c4ev</a><br/>_________________________<br/><br/>Empty Bitcoin blocks occur when miners find a block using an empty template. Many pools send empty templates to miners because they’re faster to distribute, helping miners start work slightly sooner.<br/><br/>10.6% of all Bitcoin blocks to date were empty, the majority of which were in the early days when there were very few transactions. <br/><br/>Over time this rate has dropped significantly, and now ranges from 0.15% to 0.5% at the network lev <img src="https://m.primal.net/IZiW.png"> el. 2024-06-05T15:01:24Z https://nostr.ae/nevent1qqsq2jg20snadh5v7emp4fsy5n69t2ll0755tzauzpvu53kwjhqvg3czyr0czfzk7r4gz9gd0xm9c9kwj4rj73ua07lgf00l6zrljtf3p8lxwwl8vkh Why do empty Bitcoin blocks exist?<br/><br/>Read the full report:<br/><a href="https://research.mempool.space/empty-block-report/">https://research.mempool.space/empty-block-report/</a><br/> 2024-06-05T14:59:04Z