More About Understanding Bitcoin Mining

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This payment method guarantees payments and leaves the miners with very little risk of not being compensated for their contribution. The downside of this scheme is the high fees that the pool owners bill, to mitigate the risk they take by paying frequently.

Proportional: Just like in PPS, miners distribute shares along the block finding interval. The more hashing power you have and the longer you mined to your cube, the more stocks you submitted. Once a cube is found, the pool pay the miners according to the amount of shares they obtained.

But in this payment method, the value that you will receive for each share will equal the block rewards divided by the entire number of shares submitted by all miner. This means that the further miners that join the pool, the lower the value of each share you recieve.

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Score-based: This payment system was designed to prevent miners from pool-hopping. Your mining time and hashing power are calculated into a scoring hash speed score. The longer you remain on the pool, the higher your score is and the higher the value of the  shares you receive. Once you stop mining, your score gets smaller and the value of your stocks drop accordingly.

Pay per Last N Stocks (PPLNS): In PPLNS, miners only get paid for shares received during a predefined window that ends in the block solving. Unlike other payment schemes, shares received outside of the window will not be rewarded in any way. This window can be defined as a period frame (uncommon), or with a certain number (N) that represents the last shares received up to the block solving. .

For example, if N equals 1 Billion, once a block is found only the previous 1 Billion shares will be rewarded. While not defined anywhere explicitly, N is generally set as a multiple of the mining pool issue using a constant, typically 2.

Due to this, PPLNS is also known as Pay per Luck Shares. When implemented correctly, miners cant predict the ideal time to join, so that they can either get higher rewards if they got to receive more shares within the last N stocks, or find no reward whatsoever when they didnt.

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Announced in 2010, SlushPool was the very first Bitcoin mining pool and undoubtedly led the way for many other mining pools ahead of time. Founded by SatoshiLabs current CEO Marek Palatinus (aka Slush), its based in the Czech Republic and follows a score-based method to discourage pool-hopping.

This really is a medium-large sized pool. SlushPool claims a 2% fee from each block solving reward. SlushPools dashboard is quite user friendly and gives excellent detail with regular upgrades. While it may not be the biggest of the Bitcoin mining pools, its certainly considered one of the very best.

Antpool is a Chinese Bitcoin mining pool run by Bitmain Technologies. It is medium in size. One advantage Antpool has is that you can pick between PPLNS (0% fee) and PPS+ (2% fee), each of which have their own advantages.

In terms of payments, theyre created once per day if the amount exceeds 0.001 Bitcoin. Those new to Read Full Article Bitcoin mining will love the clean interface. The dashboard clearly displays earnings and hashrates. Additionally, there are a variety of security options, including two-factor authentication, email alerts, and wallet locks.

Known for their wallet and their own blockchain explorer, BTC.com have been around for some time, before opening a pool in 2016. Owned by Bitmain Tech, BTC.com is your largest pool around, in the time of writing. BTC.com possess their own payment system, FPPS, which similar to PPS+ include TX charges in the payouts, along with the block reward.

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F2Pool is a medium-large pool situated in 2013. Operating a PPS+ reward program, F2Pool requires a 2.5% commission, which is a bit on the large side.

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Besides Bitcoin, F2Pool also supports mining Litecoin (LTC), Ethereum (ETH), Zcash (ZEC), as well as additional different coins. Theres a daily automatic payout, and the minimum withdrawal is 0.005 BTC. Unlike a few Chinese Bitcoin mining pools, it's an English interface. The design is quite straightforward, with information presented in a clear and concise manner. .

Also known as KanoPool, Kano CKPool was founded in 2014. This small Bitcoin mining pool provides PPLNS payment model, charging a 0.9% fee.

With respect to payout, per each block found you'll need to wait +101 block confirmations for paid, which might take a while.

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This is a comparatively straightforward pool with an interface which could do with an update as its not the most user friendly. It doesnt have much in the way of features, but it will possess two-factor authentication to get an additional layer of security.

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