According to FutureBit founder John Stephanopoulos, the company recently mined the first single Bitcoin block in more than a decade.
One user was able to successfully find Bitcoin blocks using his own hardware.
“This is the first time in over a decade that a single device has been discovered running a complete node and sending its blocks anonymously and independently without a third party.” said Stephanopoulos.
This block was found on an Apollo II full-node device running a user’s own independent node and solo stratum server.
In the early days of Bitcoin, blocks could be generated using a regular computer. However, as more users started joining the network, solo mining became increasingly difficult. Miners began to participate in “pools”. This made it possible to significantly speed up the block generation process by jointly using their resources and subsequently sharing block rewards. But they now have deep-rooted concerns about the increasing centralization of mining pools.
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Considering that Bitcoin’s difficulty level is currently 95 trillion, the probability of being able to mine a single block is extremely low. Block production can take years or even decades for a single miner.
As Stephanopoulos pointed out, “someone’s life just changed in the best possible way.”
After the recent halving, Bitcoin’s current block reward is now 3.125 BTC (approximately $216,024).
As reported by U.Today, the price of Bitcoin recently crossed the $69,000 level.
