I am trying to understand the scaling impact of mining from a specific perspective.
I general I read that mining rewards are roughly linear to the hashrate. However could large miners or pools not avoid inefficiency where their efforts overlap?
As a simplified example:
Suppose there are 10 solution candidates and you own 20% of the hashrate. Then you could pick candidate 1 and then candidate 2. Rather than two independent people with 10% each where the first one could choose 1 and the second person has a 10% chance to also pick 1.
I assume it doesn’t work like this but am curious if that is correct and why.
