The Ultimate Guide To Understanding Bitcoin Mining
This payment method guarantees payments and leaves the miners with hardly any risk of not being compensated for their contribution. The downside of this scheme is that the high fees the pool owners bill, to mitigate the risk they take by paying frequently.
Proportional: Just like in PPS, miners submit stocks along the block finding period. The more hashing energy you have and the longer you mined for the cube, the more shares you filed. Once a cube is found, the pool pay the miners according to the amount of shares they obtained.
But in this payment system, the value 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 more 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 period and hashing power are calculated into a scoring hash rate score. The longer you stay on the pool, the higher your score is and the greater the value of the  stocks you get. 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 stocks received during a predefined window that ends in the block solving. Unlike other payment schemes, stocks received out the window will not be rewarded at all. This window can either be defined as a time frame (uncommon), or with a certain number (N) that represents the final stocks received up into the block solving. .
By way of instance, if N equals 1 Billion, once a block is found only the last 1 Billion shares will likely be rewarded. While not defined anywhere explicitly, N is generally set as a multiple of this mining pool issue with a constant, usually two.
For this reason, PPLNS straight from the source can be known as Pay per Luck Shares. When implemented properly, miners cant predict the right time to join, so that they can either get greater rewards if they got to get more shares within the last N stocks, or find no reward whatsoever if 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 system to discourage pool-hopping.
This is a medium-large sized pool. SlushPool asserts a 2% commission from each block solving reward. SlushPools dashboard is quite user friendly and provides excellent detail with regular upgrades. While it might not be the largest of the Bitcoin mining pools, its certainly considered one of the very best.
Antpool is a Chinese Bitcoin mining pool you can check here run by Bitmain Technologies. It is moderate in size. One advantage Antpool has is that you can pick between PPLNS (0% fee) and PPS+ (2% fee), both of which have their own advantages.
In regard to payments, theyre created once daily if the amount exceeds 0.001 Bitcoin. Those new to Bitcoin mining will appreciate the clean interface. The dashboard clearly displays earnings and hashrates. There are also a variety of security options, including two-factor authentication, email alerts, and pocket 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 like 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 system, F2Pool takes a 2.5% fee, which is a bit on the high side.
Also known as KanoPool, Kano CKPool was founded in 2014. This little Bitcoin mining pool provides PPLNS payment model, charging a 0.9% commission.
With respect to payout, per each block found you will need to wait +101 block confirmations to get paid, which might take a while.
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This is a comparatively straightforward pool with an interface which could do visit homepage with an update as its not the most user friendly. It doesnt have much in the way of features, but it does have two-factor authentication for an extra layer of security.