Gathering Data:
Newest Blockchain Information: The pool operator retrieves the newest block header info just like the earlier block’s hash, timestamp, and problem stage.
Transactions: The pool collects pending transactions from the mempool (reminiscence pool), prioritizing them based mostly on charges and community necessities.
Mining Reward: The pool calculates the block reward, together with the bottom subsidy and transaction charges.
2. Constructing the Block Template:
Merkle Root: The pool hashes all included transactions to create a Merkle root, verifying their authenticity.
Coinbase Transaction: The pool creates a particular “coinbase” transaction claiming the block reward, which incorporates their charges and any protocol-specific information.
Nonce and Issue Adjustment: The pool units an preliminary nonce (quantity used for proof-of-work) and adjusts the problem based mostly on community hashrate, guaranteeing constant block creation time.
Serialization: Your entire block template (together with header, transactions, and signatures) is transformed right into a serialized information format.
3. Broadcasting the Block Template:
Stratum Protocol: The pool transmits the serialized block template to related miners utilizing the Stratum mining protocol.
Mining Competitors: Miners use the template to discover a legitimate nonce satisfying the proof-of-work problem, aiming to be the primary to resolve the puzzle and declare the block reward.
