What does ‘mining pool block explosion’ mean (how often do mining pools run away?)

‘Mining pool block explosion’ refers to a situation where a mining pool, which is a node that performs calculations on the network, encounters some abnormal circumstances during mining. For example, a snapshot of a certain cryptocurrency block may occur, or a particular digital asset may suddenly be packaged into a smaller account and generate a new currency.

There are two forms of such events. One is to determine whether a new block contains valid transactions based on the size of the computing power, and the other is to generate blocks using hash values. This method ensures that blocks are not lost, making the entire Bitcoin system more secure and stable. Another method involves encrypting the data using special algorithms, making the rules more transparent and preventing network losses caused by certain conditions (such as a 51% attack).

How often do mining pools run away?

According to the latest news from Coinprint mining pool, due to risks such as fraud and scams in the cryptocurrency industry, many unethical project teams take advantage of these opportunities for fundraising. Therefore, the speed at which some unethical projects run away is often slightly slower than normal levels. For example, a sudden closure of a certain exchange, or even a small black box being discovered and taken away by someone.

Generally speaking, if a user complains that they have been scammed (including myself), it usually takes about 3 days to confirm the ownership of the funds. However, most users may not react that quickly, as it is highly likely that someone has already transferred the money to another platform for trading. For those who have no idea whether the bitcoins they have mined are part of a scam, this waiting period can be very long. (Note: The term ‘run away’ mentioned in this article does not only refer to mining pools running away quickly. It refers to the so-called loss amount exceeding 1 million Chinese yuan, or 10,000 yuan.)