Bitcoin Mining Tutorial Fundamentals Explained
This payment method guarantees payments and leaves the miners with very little risk of not being paid for their contribution. The downside of this scheme is the high fees the pool owners bill, to mitigate the risk they take by paying regularly.
Proportional: Just like in PPS, miners distribute stocks along the block finding interval. The more hashing energy you have and the longer you mined to your 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 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 period and hashing electricity are calculated into a scoring hash rate score. The longer you remain on the swimming pool, the higher your score is and the greater 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 standard N Stocks (PPLNS): In PPLNS, miners only get paid for shares received during a predefined window which ends in the block solving. Unlike other payment schemes, stocks received out of 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 example, if N equals 1 Billion, once a block is found only the last 1 Billion shares will be rewarded. While not defined anywhere explicitly, N is usually set as a multiple of the mining pool difficulty with a constant, usually 2.
For this reason, 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 must receive more stocks within the last N shares, 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 method to dissuade pool-hopping.
This really is a medium-large sized pool. SlushPool asserts a 2% commission from every block solving reward. SlushPools dashboard is very user friendly and gives excellent detail with regular updates. While it might not be the largest of those Bitcoin mining pools, its certainly considered one of the best.
Antpool is a Chinese Bitcoin mining pool operated by Bitmain Technologies. It's moderate in size. One advantage Antpool has is that you can choose between PPLNS (0% fee) and PPS+ (2% fee), both of which have their own advantages.
In regard to payments, theyre created once per day if the amount exceeds 0.001 Bitcoin. Those new to Bitcoin mining will love the clean interface. The dashboard clearly shows earnings and hashrates. There are also 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 a while, before opening a pool in 2016. Owned by Bitmain Tech, BTC.com is your largest pool around, in the time of writing. BTC.com have 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 established in 2013. Operating a PPS+ reward system, F2Pool requires a 2.5% commission, which is somewhat on the high side.
Also known as KanoPool, Kano CKPool was founded in 2014. This little Bitcoin mining pool offers PPLNS payment model, charging a 0.9% fee.
With regard to payout, per each block found you'll need to wait +101 block confirmations for paid, which could take some time.
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This is a comparatively straightforward pool having an find out this here interface which could do with an upgrade 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 additional layer of safety.