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If two miners mine a new block at the same time, who should be awarded for the block mining?

To keep the ledger unified, Bitcoin follows the longest proof-of-work chain principle, for which the longest blockchain ledger prevails.

Mining is the collective action of the miners in the entire network. When all miners are mining, is it possible for multiple miners to mine new blocks at the same time? The answer is: Yes (in small probability). If more than one miner mine a new block at the same time, who would be awarded for the block mining?

Let's take Bitcoin as an example. The Bitcoin ledgers are distributed all over the world. To keep the ledger unified, Bitcoin follows the longest proof-of-work chain principle, for which the longest blockchain ledger prevails. In his book titled “Bitcoin: A Peer-to-peer Electronic Cash System”, Satoshi Nakamoto wrote that “The system itself requires very little infrastructure. Information spreads across the network as best as possible, and nodes can leave and rejoin the network at any time, using the longest proof-of-work chain as proof of transactions that occurred while the node was offline.”

Suppose that two miners A and B simultaneously mine the block numbered N, at which point the blockchain forms a brief fork, and further suppose the block mined by Miner A is called Chain A, and the block mined by Miner B is called Chain B.

At this point, miners at other nodes may receive a new block from Miner A, or they may receive a block from Miner B, and then they will respectively extend the blockchain after receiving new block. As soon as a new block is mined from Chain A or Chain B, the other chain is discarded according to the longest proof-of-work chain principle. The block on the discarded chain is also called orphan block.

The blocks mined by the discarded chain are also valid until the winner is determined, and there is also a block reward. After a certain chain is determined to be the longest valid chain, the other chain becomes a discarded chain, and the reward on the discarded chain will not be recognized. Thus, the sooner a miner releases a new block, the better.

However, this is only as a knowledge supplement, in the actual mining process. As all miners mine through the mining pool, each participating miner is distributed the reward in proportion to the hashrate so there is no possibility of not getting a reward from mining a block that become an orphan block later.

BTC
Shut Down
Issue amount 21000000
24 hours volume 2.60M
24 hours turnover $ 42.90B
Market Direction Long
Panic Index 55 (Greed)
Swap Rate 9.59%
Market Value Proportion 38.28%
market value $ 2,469.79 x 100 million
24 hour increase -1.27%
Computing power 311.90 EH/s
daily output 0.00000334 BTC / T
Halving time

The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.

Completed
Earnings volatility

The computing power of the entire network is due to the increase and decrease of mining machines, which affects the average distribution of revenue. If the computing power decreases, the average revenue will increase, and if the computing power increases, the average revenue decreases.

0%
LTC
Shut Down
Issue amount 84000000
24 hours volume 25.12M
24 hours turnover $ 1.75B
Market Direction Short
Swap Rate 35.10%
Market Value Proportion 0.46%
market value $ 39.66 x 100 million
24 hour increase -3.01%
Computing power 747.64 TH/s
daily output 0.00001069 LTC / M
Halving time

The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.

No halving expected
Earnings volatility

The computing power of the entire network is due to the increase and decrease of mining machines, which affects the average distribution of revenue. If the computing power decreases, the average revenue will increase, and if the computing power increases, the average revenue decreases.

0%
BCH
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Issue amount 21000000
24 hours volume 2.62M
24 hours turnover $ 308.54M
Market Direction Short
Swap Rate 13.63%
Market Value Proportion 0.21%
market value $ 14.22 x 100 million
24 hour increase -4.15%
Computing power 1.97 EH/s
daily output 0.00058155 BCH / T
Halving time

The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.

Completed
Earnings volatility

The computing power of the entire network is due to the increase and decrease of mining machines, which affects the average distribution of revenue. If the computing power decreases, the average revenue will increase, and if the computing power increases, the average revenue decreases.

0%
FIL
Shut Down
Issue amount 2000000000
24 hours volume 102.82M
24 hours turnover $ 593.34M
Market Direction Short
Swap Rate 32.50%
Market Value Proportion 0.17%
market value $ 11.54 x 100 million
24 hour increase -5.11%
Computing power 18.81EiB
daily output 0.01344531 FIL / TiB
Halving time

The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.

No halving expected
Earnings volatility

The computing power of the entire network is due to the increase and decrease of mining machines, which affects the average distribution of revenue. If the computing power decreases, the average revenue will increase, and if the computing power increases, the average revenue decreases.

0%
XCH
Shut Down
Issue amount 21410000
24 hours volume 81.28K
24 hours turnover $ 2.62M
Market Direction Short
Swap Rate 0.00%
Market Value Proportion 0.00%
market value $ 4.85 x 100 million
24 hour increase -2.76%
Computing power 14912.60839843 PiB
daily output 0.00034521 XCH / TiB
Halving time

The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.

No halving expected
Earnings volatility

The computing power of the entire network is due to the increase and decrease of mining machines, which affects the average distribution of revenue. If the computing power decreases, the average revenue will increase, and if the computing power increases, the average revenue decreases.

0%
ETC
Shut Down
Issue amount 210700000
24 hours volume 31.82M
24 hours turnover $ 799.17M
Market Direction Short
Swap Rate 23.14%
Market Value Proportion 0.33%
market value $ 23.43 x 100 million
24 hour increase -2.55%
Computing power 126.24 TH/s
daily output 0.00012589 ETC / M
Halving time

The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.

No halving expected
Earnings volatility

The computing power of the entire network is due to the increase and decrease of mining machines, which affects the average distribution of revenue. If the computing power decreases, the average revenue will increase, and if the computing power increases, the average revenue decreases.

0%
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