How Do Bitcoin Mining Pools Work? How are Bitcoin Mining Rewards Split? [2021]

How do participants in a bitcoin mining pool share rewards in a way that reflects their actual contributions and does not allow them to cheat? Watch and learn.

Chapters
0:00 How do participants in the bitcoin mining pool share rewards in such a way that reflects their actual effort without allowing miners to cheat?
0:33 How do mining pools work?
1:27 Difficulty targets and pool rewards
4:20 Participants cannot cheat

Related Videos:
What is a nonce? https://youtu.be/tjn2aoMaFlY
Nonces, Mining, and Quantum Computing: https://youtu.be/d4xXJh677J0
Number of Zeros or Target Difficulty in the Target Hash: https://youtu.be/_LPaIL6AqSQ

This question was part of the March 2021 Open Topic Q&A, see the entire session here: https://youtu.be/U0T49duRt74

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