ELI5 empty blocks 🫨
Discussion
There is race to get the next block. The fastest way to calculate the next block is for it to just be empty. Some pools provide this as the template to be mined to keep hash going. Sometimes this empty template gets mined.
I just feel like it’s fucking stupid when fees are high like this. I can see why they’d wanna do that when you get basically 6.25 either way, but this is just a vestige of that environment. It’s not like hashing on an empty template gets you a head start on the real block bc of how hashing works
When a new block is mined, it takes a little time (seconds) to compose the block header for the next block and distribute to all miners in the pool. Until the miners are given a new header, they mine as though the block is empty. On occassion, an empty block will be mined as a result when a miner is lucky to find a solution before receiving the new header.
Forcing miners to NOT mine empty blocks would actually slow down block production, which in turn would create further upward pressure on fees.
You just solved a puzzle, and before someone hands you the next puzzle you doodle some numbers on an empty piece of paper just to keep busy.